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The Boston Globe

Business

Rule extending reach of CFTC on overseas derivatives delayed

WASHINGTON — A policy allowing a US agency to regulate derivatives trading overseas to help reduce risks to the global financial system will be delayed under a vote Friday.

The Commodity Futures Trading Commission voted 3 to 1 to stagger the effective dates for the policy. The delay marks a middle ground between chairman Gary Gensler, who wanted to extend the CFTC’s regulation to overseas markets now, and Wall Street banks, which opposed extending its reach.

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