CFTC Commissioner Chilton Calls for Six-Month Transition Compliance Period

Following a meeting between various global regulators on international coordination, CFTC Commissioner Chilton issued a brief statement that included the following language:  “It is my expectation that the CFTC will very shortly provide more specific granularity to the international community on the precise nature of regulatory relief required for a smooth implementation.  I have called for a six-month transition period before compliance with regulations would be required.”

 

Lofchie Comment:  Who am I to comment on this?  I have no idea what it means.
      Does it mean that the international community requires some granularity of information that U.S. market participants don’t need?  Does it mean that there will be a six-month delay in the effectiveness of the CFTC’s Rules?  Would this apply to all market participants or only to non-U.S. participants?  What is a transition period?  What would be the process by which such a transition would be implemented?  When will we be told what is going on?
       Does puzzlement constitute a comment?

Link here to Commissioner Chilton’s statement.

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