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
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