September 19, 2019 / 8:43 AM / a month ago

U.S. derivatives watchdog calls on EU for more trust

LONDON, Sept 19 (Reuters) - The European Union should provide clarity on when it will intervene in a foreign clearing house for derivatives to avoid potentially impeding cross-border co-ordination among supervisors, a senior U.S. regulator said on Thursday.

Dawn Stump, a commissioner at the U.S. Commodity Futures Trading Commission, said the EU should put more trust in the home regulators of foreign clearing houses that serve customers from the bloc.

“We must acknowledge that no single regulator is capable of overseeing markets in every corner of the world,” Stump told a conference held by global derivatives industry body ISDA.

Reporting by Huw Jones, editing by Deepa Babington

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