CFTC's Giancarlo warns EU on CCP supervision reforms
Commodity Futures and Trading Commission (CFTC) chairman Christopher Giancarlo on Tuesday warned Europe against "unilateral change" of regulatory arrangements on the supervision of foreign central counterparties (CCPs), railing against "piecemeal and contradictory rulemaking".
The chairman, speaking at an International Commodities and Derivatives Association event in Burgenstock, Switzerland, added that any such action would be a "violation of trust and cooperation between the US and Europe". The speech marks the CFTC's strongest intervention on European regulatory affairs so far this year.
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