The SCRUB Act of 2014: "Do We Need an Anti-Regulatory Agency?" (Energy Metro Desk Article)

"Do We Need an Anti-Regulatory Agency?" a recent article published in Energy Metro Desk, discusses the proposed "Searching for and Cutting Regulations That Are Unnecessarily Burdensome Act of 2014" (the SCRUB Act). The SCRUB Act would create a nine-member regulatory agency whose primary purpose is to identify regulations that are "unnecessarily burdensome."

The article describes the impact the SCRUB Act would have on the post-Dodd-Frank CFTC. It quotes Cadwalader attorney Bob Zwirb, who observes that in implementing Dodd-Frank, the CFTC "has done too well in layering about a century's worth of new regs on top of old regs." During his time at the CFTC, Zwirb states, former CFTC Chair Gramm called regulations that were no longer relevant "barnacles" on the boat of our economy. Mr. Zwirb explains further that the "barnacles" are still there today, with "prescriptive regs [layered] upon core principle regs, with the effect that the core principle regs become prescriptive and more complex."

Mr. Zwirb goes on to explain that the flaw in former CFTC Chair Gensler's leadership was that he did not "prioritize regulatory responsibilities" for regulatory reforms. The article suggests that the CFTC should create an Office of Policy Planning, which would provide structure for the CFTC's regulatory priorities.

Click here to view the article in full.The above link is to an excerpt from the most recent issue of Energy Metro Desk, which is published biweekly by Scudder Publishing Group, an energy trade news publishing company based in the Washington, D.C. metropolitan area. Those interested in learning more about the Energy Metro Desk may do so by linking to www.energymetro.com or emailing [email protected]. Reprinted with permission of the publisher, Scudder Publishing Group, LLC. Copyright 2014.