US regulatory changes‘wrenching’: INTL FCStone
Oct 19, 2012 | 01:59 PM
| Andrea Hotter
Tags
INTL FCStone,
Sean O'Connor,
London Metal Exchange,
LME,
Andrea Hotter
LONDON — The regulatory changes currently being imposed on the U.S. commodities and broader financial markets are chaotic and "wrenching" on market participants, the chief executive officer of INTL FCStone Inc. told AMM.
Sean O’Connor said the fact that new regulations are required isn’t surprising, but their introduction in such a short space of time is proving problematic.
"The U.S. futures industry is 10 to 15 years behind what’s happened in the other industries," he said. "The problem is, the regulators are aiming to complete what was done in a very steady, systematic way over 10 to 15 years, but they’re trying to smash those changes through in one massive go. I can’t tell you how wrenching this is for the people in the U.S. We’re dealing with it and it’s tough, but the smaller guys have got no shot."....
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