U.S. futures regulators have cited gaps in derivatives rules between the U.S. and Europe, Financial Times reports. According to Jill Sommers, a Republican-appointed commissioner at the Commodity Futures Trading Commission, European rules are behind the U.S. European Union is likely to exempt pension funds from a requirement that OTC derivatives transactions should be made through a clearing house. The proposed rules by the EU may harm the competitiveness of U.S. business, added Sommers.
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