CFTC Under Fire from Asia-Pacific Regulators

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Asian regulators have become increasingly concerned about the extent to which they will be affected by US regulation.

The US Commodity Futures Trading Commission (CFTC) has been criticized by Asian regulators over the potential reach of over-the-counter (OTC) derivatives legislation.

In a letter sent to the CFTC, the bodies argued that OTC trading reform in the US, enacted primarily through Title VII of the Dodd-Frank Act, has extra-territorial implications for their organizations as well as market participants, and could create complexity, cost, fragmentation and risk in international markets.

While the letter