CFTC Commissioner Mark Wetjen has signaled that the CFTC may extend the July effective date for its cross-border derivatives rules. Speaking at a Futures Industry Association conference, Wetjen said the European Securities and Markets Authority's announcement that they would delay their implementation timeline into 2014 creates problems for the CFTC's own schedule. According to Wetjen, the CFTC is already more than two years past the deadline for new cross-border derivatives rules set by Congress. Nonetheless, the CFTC would have little choice but to extend its schedule once again to keep pace with European regulators.