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CFTC Commissioner Blasts Agency on Swap Regs

Jill Sommers, a commissioner of the U.S. Commodity Futures Trading Commission, has criticized her agency for being “out of step” with other regulators regarding rules being developed for credit default swaps, reports Reuters.

Jill Sommers, a commissioner of the U.S. Commodity Futures Trading Commission, has criticized her agency for being “out of step” with other regulators regarding rules being developed for credit default swaps. In a speech to bankers, Sommers said she supports a “more flexible approach” to the rules that is being considered by the U.S. Securities and Exchange Commission and international regulators.

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