The U.S. derivatives regulator will move on from reforms created in the wake of the 2007-09 financial crisis to a new focus on U.S. competitiveness and the potential for shocks to the global $710 trillion (£564.37 trillion) swaps markets under President-elect Donald Trump.
J. Christopher Giancarlo, in line to head the Commodity Futures Trading Commission once Trump is inaugurated on Jan. 20, has said the agency should look beyond mandates from the 2010 Dodd-Frank Wall Street reform law to current trends in financial markets. He counts among those cyber threats, liquidity risk, market concentration and de-globalisation.
As the sole Republican on the CFTC, Giancarlo will at least temporarily run the commission where he is currently the minority member.
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