What Lies ahead for Derivatives Reform?

One year after Congress ordered a crackdown on the opaque derivatives market as part of the sweeping Dodd-Frank Act, the road to reform has been a bumpy one.

From protests from the banking industry, special interest groups, and members of Congress to regulators’ missed deadlines for translating a broad set of principles into new rules, creating a regulatory framework for derivatives has been one of the most controversial issues to emerge during the Dodd-Frank implementation.

Against this backdrop, Daniel J. Roth, president and CEO of the National Futures Association, a self-regulatory organization for the U.S. futures industry, and Sanjiv Das, chair of the finance department at Santa Clara University’s Leavey School of Business, recently discussed what’s next for derivatives regulation.