Gensler: Correcting the record on OTC regulation

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					Gensler: Correcting the record on OTC regulation
Daniel P Collins
Futures; Sep 2010; 39, 9; Docstoc
pg. 20




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Description: In an interview, Gary Gensler, Commodity Futures Trading Commission (CFTC) chair, talked about what comes next after Pres Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. There is a series of rules that have been asked to write working along with the SEC and in some cases with the Federal Reserve and the other prudential regulators. Gensler has a great deal of confidence in the people at the CFTC and their ability to do the job. The clear intent of Congress was to lower the risk to the American public and to promote transparency in markets that were not regulated in the US or overseas. The bill that was passed is very strong. The SEC and CFTC have been working together very well in this administration. Markets work best when there are rules of the road and they are clear and transparent rules that help promote transparency and lower risk.
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