The Commodity Futures Trading Commission's acting chairman, Mark Wetjen, has "a very positive attitude" to global regulatory cooperation, a senior U.S. derivatives lawyer told derivatives professionals at the International Swaps and Derivatives Association's annual meeting. Wetjen is heading the CTFC on an interim basis following the departure in January of Gary Gensler, and pending the arrival (subject to Senate confirmation) of the new permanent chairman, Tim Massad, from the U.S. Treasury, where he is the assistant secretary for financial stability. "By that I mean [Wetjen is] interested in practical problem-solving. There will be a new chair, however, whose views are unknown," said Joshua Cohn, who heads Mayer Brown's U.S. derivatives and structured products practice. He described the CTFC under Gensler's chairmanship as "aggressive, and a volume producer of materials on extraterritoriality", taking "the singular view that the United States has to defend its own interests against
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