House Issues Bill That Would Curb CFTC’s Dodd-Frank Power
The House Agriculture Committee introduced a 48-page bill this week that would require the CFTC to probe into the costs of enforcing its Dodd-Frank Act regulations and conduct an up-to-date study of the current state high-speed trading. The legislation would also impose limits on the CFTC’s power to enforce rules on overseas derivatives trading and on manufacturers using swaps to hedge business risks. The legislation aims to increase efficiency and accountability of the Commission, and will next go in front of the full House for a vote. Bill. On April 9th, Reuters discusses how the bill will level the playing field in the derivatives market for non-banks.Non-Banks.
Massad Approved by Senate Panel to Head CFTC
Timothy Massad took another step towards heading up the CFTC this week, when a U.S. Senate panel approved him as the Commission’s next chairman this week. Massad is a lawyer who helped oversee the Treasury Department’s bank bailout program in 2008 and 2009, and was nominated by President Obama for the position. Massad.