CFTC Commissioner O'Malia, Remarks at FIA Clearing 2011: A Derivatives Forum

CFTC Speeches

April 13, 2011

Speech of Commissioner Scott D. O'Malia talks about "where the Commission is" with respect to implementation of Dodd-Frank. He notes that the CFTXC has proposed more than 50 rules that if lined up by the Fed. Reg. pages would stretch over 921 feet and will likely reach the Empire State Building's 86th floor observation deck. "The fact I find most amazing, is tht if we allowed the comment period for each rule to run consecutively, its total running time would last over seven-and-a-half years. Yet, you have less than one year to meaningfully respond to all of the proposed rules, which as we are all aware, were not rolled out in a coherent order."

Cross References

Dodd-Frank Act, Title VII