Christopher Giancarlo, head of the Commodity Futures Trading Commission, called the EU plans to amend European Market Infrastructure Regulation “unprecedented and wholly unacceptable” and warned they could create “costly burdensome regulatory requirements” in the US.
Mr Giancarlo said that if the EU did not change the existing plans he would have “no choice” but to select from a wide range of actions that includes barring EU banks from using US financial infrastructure such as the Chicago Mercantile Exchange.
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