Tuesday, March 9, 2010
Two speeches today by CFTC Chairman Garny Gensler. First, delivering the Keynote Address on OTC Derivatives Reform, Markit’s Outlook for OTC Derivatives Markets Conference, he advocates:
We need broad regulatory reform of over-the-counter derivatives to best lower risk and promote transparency in the marketplace. While similar to other derivatives, credit default swaps have unique features that require additional consideration. Only with comprehensive reform can we be sure to fully protect the American public.
He also presented testimony before the Senate Committee on Energy and Natural Resources regarding the regulation of over-the-counter (OTC) derivatives, particularly with respect to energy markets.