Release: 4761-03
For Release: March 11, 2003

INTERNATIONAL FUTURES REGULATORS MEETING

Boca Raton, Florida – Financial services regulators from Canada (Manitoba, Ontario and Quebec), Chile, Germany, Ireland, Italy, Japan, Korea, Mexico, the Netherlands, Russia, Singapore, Spain, Taiwan, the United Kingdom, and the United States will meet on March 12, 2003, at the International Regulators Meeting that is hosted annually by the Commodity Futures Trading Commission (Commission).

The theme for this year’s meeting is “The Current Regulatory Environment – Overseeing Markets in Uncertain Times.”

Panel discussions chaired by senior representatives of the Commission, attending foreign regulators, and representatives of the National Futures Association (NFA) will address: the latest regulatory developments in the European Union and their impact on non-EU firms; issues related to access, cross-border ownership of exchanges, remote clearing, the possible harmonization of rules; and current supervisory issues in the energy markets, including the benefits of central counterparty clearing. A panel of U.S. futures industry participants will share their views regarding market access, clearing, business conduct and anti-money laundering rules, retail hedge funds, and single stock futures.

Other presenters will describe current initiatives by the Committee of European Securities Regulators, efforts to harmonize regulation among Canadian Provinces, developments within the Council of Security Regulators of the Americas and the International Organization of Securities Commissions, Inter-American Regional Committee, and regulatory restructuring in Ireland.

John Damgard, President of the Futures Industry Association, which provides facilities and support for the international regulators meeting, will also speak to the group.

Commenting on this meeting, James E. Newsome, Chairman of the Commodity Futures Trading Commission, said:

“I have long been an advocate of removing unnecessary barriers to cross-border transactions. Dialogues such as the ones taking place here this week can facilitate those changes. I look forward to engaging discussions and informative presentations.”

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