FOR IMMEDIATE RELEASE
Wednesday, February 10, 2016
Contact: Jeff Gohringer, 202-618-6430 or jgohringer@bettermarkets.com

Better Markets Statement on SEC Adopting a Final Cross-Border Derivatives Rule

Washington, DC — Better Markets President and CEO Dennis Kelleher released this statement on the SEC adopting a final cross-border derivatives rule earlier today:

“We applaud the SEC for including cross-border security-based swaps in the de minimis calculation for swap dealer registration. Registration is a critical element of any regulatory framework designed to oversee our financial markets. However, while today’s vote is an important step forward in ensuring security-based swaps are subject to appropriate regulation, it is only a small piece of the derivatives regulatory regime. More work needs to be done, including in particular issuance of final rules on clearing, trade execution, capital, and margin. We hope the SEC will move forward as quickly as possible to complete these important and overdue rules.”

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.