Concurring Statement, Commodity Futures Trading Commission Strategic Plan FY 2011-2015

CFTC Concurring Statement

February 28, 2011

Commissioner Scott D. O'Malia's concurring statement. O'Malia supports the establishment of a new technology and data group within the CFTC, but opposes the establishment of a new oversight group for swap dealer and intermediary oversight, which he claims "will further fracture the Commission's oversight responsibilities at a time when we should consolidate and coordinate our supervisory oversight functions . . . creat[ing] bureaucratic silos that fail to identify this critical systemic risk."

O'Malia also lends support to establish a new education group specifically focused on consumer education and protections that will be funded entirely from civil monetary penalties.

Cross References

Dodd-Frank Act, Title VII