NEW YORK (Reuters) - A top official with the U.S. Commodity Futures Trading Commission (CFTC) is pressing lawmakers to give regulators authority to dig into the books of any firm seeking to acquire significant interest in any registered market player.
In remarks expected to be published on Thursday, Democratic CFTC Commissioner Kristin Johnson said the agency needs authority to conduct "effective due diligence" on any firm that wants to purchase 10% or more of the equity interest in an exchange or clearing house registered with the agency. Without this, unregistered firms can buy their way into U.S.-regulated markets without meaningfully opening their books to regulators, she said.
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