CFTC Speeches March 7, 2011 CFTC Commissioner Jill Sommers called for: extended and more flexible time deadlines for implementing Dodd-Frank requirements; setting the precise scope of Dodd-Frank with respect to the cross-border activities of foreign banks; harmonizing our rules to the greatest extent possible with the SEC, other U.S. regulators and our foreign regulatory counterparts to ensure that we accomplish the overall objectives of "reducing systemic risk and limiting opportunities for regulatory arbitrage"; Commissioner Sommers also noted that the CFTC is out of step with non-U.S
FIA President and CEO Walt Lukken asserted that a "great deal" of industry uncertainty is caused by the challenge of meeting post-crisis regulatory requirements.
The Futures Industry Association Principal Traders Group urged the CFTC to approve an ICE Futures U.S., Inc. amendment to a proposal that would clarify the meaning of "acceptable pre-hedging or anticipatory hedging activity in connection with what parties believe in good faith will result from the negotiation of a block trade."
In its latest Research Note, ISDA examined key trends in clearing for small derivatives users by analyzing publicly available data on clearing, and by surveying small derivatives users in the United States and the European Union.
The Futures Industry Association ("FIA") and the FIA Principal Trading Group expressed "grave concerns" about provisions for access to source code contained in the CFTC supplemental proposal to Regulation Automated Trading.