European Commission officials have played down concerns expressed by the Commodity Futures Trading Commission over a controversial EC proposal that seeks to revise European oversight of foreign clearing houses. The comments garnered a curt response from a senior CFTC official.
In a leaked document penned by the Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission officials combed through a recent CFTC white paper on cross-border supervision of derivatives markets and largely dismissed concerns held by the CFTC over the EC's central counterparty clearing house
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