“The new rules for the derivatives markets are written, but that’s not the end of the story.

“The Commodity Futures Trading Commission over the next several months will most likely take another pass at policies that are shifting the way derivatives known as swaps are disclosed to regulators, traded with more transparency and policed across borders.

“The changes will be considered as the agency is in the midst of a leadership change. Acting Chairman Mark Wetjen is currently running the show following the departure in January of Chairman Gary Gensler, who pushed staff and commissioners through long hours and nonstop lobbying to finalize dozens of rules mandated by the 2010 Dodd-Frank law.”

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“Better Markets President Dennis Kelleher said the process might be harder to track if it’s done outside the channels of formal rulemaking, where much of the agency’s policy debate has played out over the last few years.

“There’s going to be no letup in our focus on the CFTC and derivatives regulation more broadly in the next phase,” he said.”

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