La CFTC a publié l'opinion de G. Gensler, son président, sur les produits dérivés et les futures.,
Résumé officiel :
Good afternoon. I thank the American Bar Association's Committee on Derivatives and Futures Law for inviting me to speak today. Unfortunately I am not able to join you in person. The CFTC currently is operating under a Continuing Resolution, which means that our funding is the same level as it was last fiscal year. Thus, we are limiting travel.
The 2008 financial crisis left us with many lessons and many challenges to tackle. When I addressed this audience last year, I focused on two of those challenges: lowering risk in the derivatives markets by requiring centralized clearing of standardized transactions and improving transparency in those markets through trading on exchanges and swap execution facilities. Since then, Congress passed - and the President signed - the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Dodd-Frank Act includes clearing and trading requirements and brings swap dealers under comprehensive regulation. Today, I will spend my time addressing the CFTC's efforts to implement the Dodd-Frank Act.
Markets work best when they are transparent, open and competitive. The American public has benefited from these attributes in the futures and securities markets since the great regulatory reforms of the 1930s. In enacting reforms after this generation's financial crisis, Congress directed the CFTC and the Securities and Exchange Commission to bring similar features to the swaps markets. We are in the midst of the rule-writing process to fulfill Congress's direction.