Banks’ Overseas Moves Should Get CFTC Investigation, Waters Says
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Wall Street banks should face investigation over recent moves to escape U.S. rules for overseas derivatives trades, according to the top Democrat on the House Financial Services Committee.
The Commodity Futures Trading Commission should “thoroughly investigate” recent shifts to avoid Dodd-Frank Act rules mandating price-competition and transparency, wrote Representative Maxine Waters of California in a letter to Timothy Massad, the agency’s new chairman.