I absolutely agree. I believe that a resolution regime should provide legal restrictions on how counterparty assets held by OTC derivatives dealers and other major market participants would be treated in the event of an insolvency.
Gensler emphasizes the need for legal restrictions on asset treatment during insolvency.
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It seems it is like a chia pet. It looks like a good idea for a gift until you buy it.
I think that the Congress' wisdom was to have an agency to oversee disclosure-based markets where issuers are asking the public to buy and sell their securities.
The New York Stock Exchange can't actually also run a hedge fund on and trade against their customers.
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