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Tensions spill over at CFTC over swaps reform

Tensions at one of the top US watchdogs charged with implementing key reforms of the derivatives markets spilt into the open on Tuesday as a regulator blasted the process as having “no specific plan or strategy”.

The comments were made by Scott O’Malia, one of five commissioners at the Commodity Futures Trading Commission and one of two Republicans at the agency, which is dominated by Democrats

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