|By BEN PROTESS|
Four years after
On Thursday, a member of the
Although the agency has imposed checks on derivatives trading in
In June, the C.F.T.C. took a first step, introducing a plan to oversee
"I continue to have concerns, however, about the clarity, scope, and workability of the proposals in certain areas," he said.
But his plan is far from a done deal. The agency has spent weeks hashing out internal disputes, and a final decision is not expected until later this year.
When the agency was readying the cross-border proposal in June,
He reiterated some concerns on Thursday, saying the agency may not have provided sufficient "clarity" about the timing and scope of the plan. "The commission must do better," he said.
"In light of the commission's limited resources, efficient regulation through deference to comparable regulation just makes sense," he said.
Despite his concerns,
"Regulation will not prevent every risk from materializing at a financial firm in any given jurisdiction," he said, while adding that "we must do what we can to prevent such risks from damaging our economy."
|Copyright:||Copyright 2012 The New York Times Company|
|Source:||New York Times Digital|