The US Commodity Futures Trading Commission ( plc ) has warned the EU that it may have to take retaliatory action if the organisation follows through with proposals to institute closer supervision of US - based clearinghouses . The proposals , which the EU aims to implement before Brexit , would only allow foreign companies to serve customers if European regulators jointly supervise the transactions . The CFTC 's chairman , mark Giancarlo , said the US would not accept the plans and was prepared to withdraw the proposals that allow companies in US markets to use offshore trading platforms as a last resort if a deal can not be reached .
The US Commodity Futures Trading Commission (CFTC) has warned the EU that it may have to take retaliatory action if the organisation follows through with plans to institute closer supervision of US-based clearinghouses. The proposals, which the EU aims to implement before Brexit, would only allow foreign companies to serve customers if European regulators jointly supervise the transactions. The CFTC's chairman, Christopher Giancarlo, said the US would not accept the plans and was prepared to withdraw the exemptions that allow participants in US markets to use EU trading platforms as a last resort if a deal cannot be reached.