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SEC, CFTC To Provide Pre-Deadline Guidance

Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said the CFTC and the U.S. Securities and Exchange Commission will provide guidance for parts of the Dodd-Frank Act before the July 16 deadline for regulations to be completed, reports Dow Jones Newsires.

Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said the CFTC and the U.S. Securities and Exchange Commission will provide guidance for parts of the Dodd-Frank Act before the July 16 deadline for regulations to be completed. Gensler has said the agencies would not likely finish the regulations by that date, which raised concern among derivatives traders that the swaps market would be thrown into legal limbo as some portions of the law automatically go into effect, even without written rules.

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