May 05, 2011

The Securities Industry and Financial Markets Association called for an extension of the July 21 deadline for new derivatives rules, arguing regulators don't have enough time to consider critical issues in the transformation of the swaps market.

Ken Bentsen, SIFMA's executive vice president of public policy and advocacy, applauded the passage of a bill by the House Agricultural Committee this week that would delay the implementation of new derivatives regulations until December 31, 2012. The bill is expected to be voted on next week by the House Financial Services Committee and should it pass, would then be considered by the full House.

"This legislation would provided additional time for regulators to draft rules, conduct additional cost-benefit analysis, and consider the cumulative impacts of these rules on the market and how they would affect business and consumers," Bentsen said in a statement."

ABOUT THE AUTHOR
As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced ...