Sef rule reform needs to be targeted: CFTC official
Targeted changes are better than a total rewrite, says Rostin Behnam
The incoming chairman of the Commodity Futures Trading Commission (CFTC) is likely to continue with attempts to reform rules governing swap execution, according to commissioner Rostin Behnam – who nevertheless warns against a full-scale overhaul of the framework.
Market participants have already spent a “great deal of resources” to build systems and businesses that comply with the existing rules, and a revamp will be justified only when there is a regulatory concern, said Behnam.
Despite that
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