Sef rule reform needs to be targeted: CFTC official

Targeted changes are better than a total rewrite, says Rostin Behnam

Heath Tarbert
Incoming CFTC chairman Heath Tarbert will take over the Sef overhaul
Photo: CQ-Roll Call/SIPA USA/PA Images

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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