News Summary: CFTC seeks oversight on risky trades

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SEEKING TO REIN IN RISKY TRADES: Regulators are seeking to extend federal oversight of derivatives to cover overseas trading that takes place by affiliates of U.S. banks.

BIG JPMORGAN TRADING LOSS: The proposal from the Commodity Futures Trading Commission comes just weeks after JPMorgan Chase & Co. said that it lost billions because of high-risk trades that took place in its London operation. The loss at the biggest U.S. bank has raised concerns about the risks large banks can still pose to the financial system just four years after the financial crisis.

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