SIFMA: News on the capital markets, securities and financial industry

Washington Roundup

MF Global highlights need for regulations, Gensler says
Speaking at the SIFMA Annual Meeting, Commodity Futures Trading Commission Chairman Gary Gensler said the collapse of MF Global shows the need for rules. "T he events are just but another reminder of the importance of having strong regulations to have enough capital in place early and to be ever-alert for when short-term funding is starting to dry up," Gensler said. TheStreet.com(11/8)

CFTC wants more money to regulate swaps market: Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, said that because the agency's mandate has expanded, it needs additional funding. "Some have raised cost considerations about our rules. But far more costly is a public that remains unprotected from the risks of the swaps market," Gensler said at the SIFMA Annual Meeting. Global Financial Strategy(11/8)

FSB will focus on regulating shadow banking, Carney says
Mark Carney, newly appointed head of the Financial Stability Board, said regulating the shadow-banking industry is a priority. "It starts actually through the interface between the regulated and the shadow banking sectors, because in the end much of the liquidity for shadow banking is provided and maturity transformation is facilitated by the regulated sector," said Carney, who is also governor of the Bank of Canada. Reuters