CFTC Urged To Delay Overseas Swap-Unit Registration

Societe Generale Corporate and Investment Banking and the Institute of International Bankers are calling on the U.S. Commodity Futures Trading Commission to delay required registration of foreign-based lender’s swap-dealing unit, set for October, until after the CFTC receives comments on a recent proposal on how the Dodd-Frank Act would apply to foreign-based banks and overseas unit of U.S.-based banks.