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Tuesday, May 22, 2012

CFTC O’Malia : Dodd-Frank Rulemakings – We Can Do Better

CFTC Commissioner Scott O’Malia spoke at the Annual Nuclear Industry Conference today calling for the CFTC to create “rules more black and white.”
The Commission [the CFTC] needs to make its rules more black and white. We can foster cost-effective compliance by clearly articulating the purpose and desired effect of our regulatory requirements.

The Commission’s objective in implementing the Dodd-Frank Act should be compliance, and not enforcement.

We must look at developing a more thorough process for conducting cost-benefit analyses that appropriately inform our rulemakings of the challenges facing the market.
Read O’Malia’s full speech.

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