The many faces of regulatory arbitrage
The proposal opens up two major questions: why a new cap is being introduced when the National Futures Association already introduced limits at the end of last year; and what happened to the CFTC’s stated aim to prevent regulatory arbitrage as it looks to introduce a cap inconsistent with regional peers.
On the wholesale market though, a report released last week by Tabb Group found that the number of dealers in over-the-counter derivatives could double as a result of legislative and regulatory
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