The U.S. Commodity Futures Trading Commission isn’t keeping up with high-speed derivatives trading and needs to invest in tools to detect manipulative and disruptive practices, said Scott O’Malia, a Republican commissioner.
The U.S. Commodity Futures Trading Commission is overreaching in its Dodd-Frank Act rulemaking, undermining efforts to provide certainty to the swaps market, according to Scott O’Malia, a Republican commissioner.
The U.S. Commodity Futures Trading Commission, probing a shortfall of $200 million in client funds at Peregrine Financial Group Inc., must take immediate steps to safeguard customer funds, a Republican commissioner said today.
The U.S. Commodity Futures Trading Commission should redefine which companies are considered swaps dealers because the drafted rules could put an unnecessary burden on commercial energy firms, CFTC member Scott O’Malia said.
Dodd-Frank Act derivatives rules are failing to give regulators a full picture of the swaps market and wouldn’t help them detect a loss similar to JPMorgan Chase & Co.’s London Whale trades, according to Commodity Futures Trading Commission member Scott O’Malia.
Swap-trading rules governing firms such as CME Group Inc. and ICAP Plc won’t be completed by mid- November at the main U.S. derivatives regulator, according to Commodity Futures Trading Commissioner Scott O’Malia.
A Republican member of the U.S. Commodity Futures Trading Commission is seeking an Office of Management and Budget review of Dodd-Frank Act derivatives rules that he says have gotten insufficient scrutiny from his agency.