December 22, 2010 Busy Bureaucrats 'Inundate' Derivatives Traders Government bureaucrats are facing an unusual complaint: they are moving too quickly. "We have big staffs, but we are getting inundated and have started getting behind on trying to keep up with this stuff. . . The problem is there's one after another." said Terry Duffy, executive chairman of CME Group. Spencer Bachus and Frank Lucas, Republicans who next year will chair the US House financial services and agriculture committees, respectively, have taken up industry concerns concerning the pace of rulemaking pursuant to Dodd-Frank, writing to regulators to say they may "consider delaying statutory deadlines" for derivatives rules. The process is burdensome, and some say it has become Byzantine. In a single day - December 1 - the CFTC proposed 483 pages of rules. Date Dec. 21, 2010 Cross Reference (links require a Cabinet subscription) Dodd-Frank Act, Title VII Tags Regulated Entities FCMs and IBs, Floor Brokers Body of Law CEA Regulation Jurisdiction US - Federal