Energy Metro Desk Reviews Statements by SEC Commissioner Aguilar and CFTC Commissioner Giancarlo

Energy Metro Desk reviewed regulatory developments and noted recent speeches given by SEC and CFTC Commissioners.

Highlights include:

• CFTC Commissioner Luis A. Aguilar's "helpful tips" memo for future CFTC commissioners on choosing legal counsel wisely. The memo quotes Cadwalader attorney Robert Zwirb's recommendation that a new commissioner should be aware that the agency they are joining "has a culture of its own," and his warning that "members of the agency may be more inclined to perpetuate that culture rather than to challenge it."
• CFTC Commissioner J. Christopher Giancarlo's lecture on preparing for the next financial crisis delivered at Harvard Law School. The lecture cites Cadwalader attorney Steve Lofchie: "Among the difficulties of having a forward-looking discussion about the regulation of global financial markets is that any such discussion necessarily involves making implicit concessions [for past mistakes]."