O'Malia scrutinizes CFTC's efforts on Dodd-Frank

05/15/2013 | Risk.net (subscription required)

Scott O'Malia, a member of the Commodity Futures Trading Commission, is raising concerns about the agency's practice of finalizing rules mandated by the Dodd-Frank Act and then offering exemptions and last-minute reprieves. "This is no way to develop the rules. ... We create the rules and then we create these time-limited, entity-limited and sometimes, indefinite loopholes. It is maddening," O'Malia said.

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