Statement Of CFTC Commissioner Christy Goldsmith Romero: Promoting The Resilience Of Swap Dealers In Europe Through Strong Capital Requirements And Financial Reporting - The CFTC's Proposed Comparability Determination For European Swap Dealer Capital Requirements

<p><span>Today, the Commission considers efforts to safeguard the resilience of four swap dealers in the European Union (&ldquo;EU&rdquo;).</span><a href="https://www.cftc.gov/PressRoom/SpeechesTestimony/romerostatement060723e#_ftn1">[1]</a><span>&nbsp;&nbsp;The proposal is part of the Commission&rsquo;s &ldquo;substituted compliance&rdquo; framework&mdash;a framework that promotes global harmonization with like-minded foreign regulators that have rules, supervision and enforcement that are comparable in purpose and effect to the CFTC.&nbsp;&nbsp;Our capital rules are a critical pillar of the Dodd-Frank Act reforms.&nbsp;&nbsp;We must ensure that our comparability assessments are sound and do not increase risk to U.S. markets.</span></p>

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