O'Malia seeks review of CFTC's derivatives rules

02/27/2012 | Bloomberg

Scott O'Malia, a Republican member of the Commodity Futures Trading Commission, has asked the Office of Management and Budget to look into derivatives rules that the commission is drafting and implementing. O'Malia argues that the CFTC has not adequately analyzed alternatives to the new rules. He also questioned the CFTC's cost-benefit analysis of the regulations. "The commission has failed to carefully and precisely identify a clear baseline against which the commission measured costs and benefits and the range of alternatives under consideration," O'Malia said.

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