A US Commodity Futures Trading Commission member called for rejection of any derivatives-rule relief sought by EU authorities in retaliation for a European Parliament vote last week that he said could harm US clearinghouses.
Commissioner Brian Quintenz, a Republican, said Thursday that the parliament’s amendments to legislation opposed by CFTC members continue to ignore a 2016 US-EU agreement that the two jurisdictions’ clearinghouse rules are to be considered equivalent.
“Until European authorities commit to honoring their current agreement with the US and reaffirm an appropriate deference-based approach to (clearinghouse) oversight, I do not believe the CFTC should make additional accommodations to EU authorities,” he told an Institute of International Bankers luncheon.
CFTC's Quintenz urges retaliation after EU Parliament clearinghouse vote
22 June 2018 8:36am