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Interview with Gary Gensler, CFTC, on regulating the OTC derivatives markets: Watch video
The Dodd-Frank bill, signed into law in the US in July, gives them the clear mandate to rein in the $615 trillion dollar OTC derivatives markets. This is a market that allows companies and financial institutions to hedge their financial markets risk, but its been accused of helping cause the financial crisis.
Euromoneys Hamish Risk recently spoke with Gensler to discuss the CFTCs new role in regulating the OTC derivatives market. Heres what he had to say.
| Gary Gensler video interview: |
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Gary Gensler comments on
- the objectives of derivative regulation Article VII Dodd Frank
- why the CFTC is best placed to reform the derivatives markets
- the importance of global co-ordination of regulation
- why clearing houses are best equipped to reduce counterparty risk
- what qualifies as a swap execution facility