FIA President Warns CFTC Overreach On Dodd-Frank Could Put Swaps at Risk

The president of the Futures Industry Association Oct. 10 warned that the swaps markets could shrink and “change in unexpected ways“ if the Commodity Futures Trading Commission continues to read the Dodd-Frank Wall Street Reform and Consumer Protection Act more broadly than it should.

Speaking at a conference at George Washington University focusing on new derivatives rules, Walter Lukken said that if the CFTC insists on going beyond the reform goals established by international regulators in 2009 in response to the financial crisis a year earlier, the swaps markets as they exist today could be at risk.

“I think most ...