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            • Remove Timothy G. Massad filter Timothy G. Massad
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            • March 22, 2019

              Former CFTC Chair Urges Congress to Strengthen Regulation for Crypto-Assets

              In a Brookings Institute working paper, former CFTC Chair Timothy Massad urged Congress to bolster regulation of crypto-assets. Mr. Massad pointed out that new crypto exchanges and trading platforms are not held to the same standards required of securities and derivatives market intermediaries,...
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • January 18, 2017

              CFTC Commissioner Giancarlo Sets Forth Priorities for "Making Market Reform Work for America"

              CFTC Commissioner J. Christopher Giancarlo set forth his regulatory priorities for the Commission. Outgoing CFTC Chair Timothy Massad listed regulatory accomplishments during his tenure and urged future regulators not to "dismantle the framework."
              bzwirb's picture
              Commentary by Bob Zwirb
            • January 10, 2017

              CFTC Chair Massad Urges Incoming Administration Not to Repeal Post-Crisis Reforms

              CFTC Chair Timothy Massad urged regulators to "address the causes" of the "discontent" that led to Brexit and the outcome of the U.S. presidential election, but "not [to] reverse the reforms made since the crisis."
              bzwirb's picture
              Commentary by Bob Zwirb
            • January 03, 2017

              CFTC Chair Timothy Massad Resigns

              CFTC Chair Timothy Massad will leave the agency on January 20, 2017.
            • December 09, 2016

              Chair Massad Describes the CFTC's Efforts on Behalf of Commercial End-Users

              CFTC Chair Timothy Massad detailed the agency's past efforts and his remaining agenda on behalf of commercial end-users.
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • December 06, 2016

              CFTC Chair Massad Defends Dodd-Frank Derivatives Regulations

              CFTC Chair Timothy Massad emphasized the dangers of repealing Dodd-Frank, defended the derivatives regulations implemented under it, and discussed the future of the derivatives markets in the political and international arenas.
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • December 05, 2016

              CFTC Reproposes Rules Limiting Speculative Futures and Swaps Positions, Finalizes Aggregation Rules

              The CFTC voted to repropose position limits rules, which would place limits on speculative futures and swaps positions. In a separate vote, the CFTC approved final aggregation rules.
              bzwirb's picture
              Commentary by Bob Zwirb
            • November 22, 2016

              CFTC Publishes Enforcement Results for 2016

              The CFTC released its enforcement results for fiscal year 2016. The CFTC reported that these actions addressed a "sweeping range of misconduct and market harm."
            • November 15, 2016

              CFTC Chair Massad Urges New Administration to Continue Derivatives Market Reforms

              CFTC Chair Timothy Massad urged future regulators to focus on technological risk, clearinghouse risk and market liquidity, and international regulatory harmonization.
              bzwirb's picture
              Commentary by Bob Zwirb
            • November 04, 2016

              CFTC Revises Reg AT Proposal (with Cadwalader Summary)

              The CFTC approved a supplemental proposal to Regulation Automated Trading. The revised proposal lowers the threshold for registration for algorithmic trading firms and allows the CFTC to obtain access to their source code.
            • November 02, 2016

              CFTC and Canadian Provincial Regulators Expand Cross-Border MOU

              The CFTC and Canadian provincial regulators signed a counterpart to a 2014 Memorandum of Understanding on cross-border cooperation in the supervision and oversight of regulated entities.
            • October 24, 2016

              Regulators Examine Current Developments in U.S. Treasury Markets (with Delta Strategy Group Summary)

              At a conference held in New York, senior regulators discussed developments in data reporting, clearing and settlement, and the ongoing evolution of Treasury Market structure and liquidity.
              bzwirb's picture
              Commentary by Bob Zwirb
            • October 19, 2016

              Chair Massad Updates CFTC Priorities

              CFTC Chair Massad provided updates on the CFTC's top five priorities (i) margin requirements for uncleared swaps, (ii) automated trading, (iii) cybersecurity, (iv) swap execution facility trading, and (v) data reporting.
            • October 12, 2016

              Risk Desk Editor Predicts Busy Autumn for the CFTC

              Risk Desk editor John Sodergreen predicted a rush to complete the CFTC capital requirements rule and Regulation Automated Trading proposals.
            • September 15, 2016

              Chair Massad Recommends One-Year Delay of Swap De Minimis Threshold

              CFTC Chair Timothy Massad will recommend a one-year delay of the swap de minimis threshold. The threshold will determine when an entity's swap-dealing activity triggers registration as a swap dealer.
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • June 09, 2016

              CFTC Chair Massad Recommends "Holistic" Approach to Central Clearing Regulation

              CFTC Chair Timothy Massad urged global regulators to "take a holistic perspective" regarding central counterparty regulation and to "consider the overall system, its overall resilience, and its ability to respond if there is a problem."
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • February 23, 2016

              CFTC Commissioners Address Technology Challenges at Advisory Committee Meeting

              CFTC Commissioners addressed (i) proposed Regulation Automated Trading, (ii) swap data standardization and harmonization, and (iii) blockchain and distributed ledger technology in the derivatives market at a meeting of the Technology Advisory Committee.
              bzwirb's picture
              Commentary by Bob Zwirb
            • December 21, 2015

              CFTC Chair Massad Criticizes Budget Deal

              CFTC Chair Timothy Massad criticized the failure of the 2016 budget agreement to provide "even a small increase" for the CFTC's "critical work" in a market with a budget of $1.1 trillion. Chair Massad asserted that "[t]he failure to provide the CFTC even a modest increase in the fiscal year 2016...
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • December 08, 2015

              FSOC Voting Members Testify at Financial Services Committee Oversight Hearing

              Eight of ten voting members of the Financial Stability Oversight Council ("FSOC") testified at a House Financial Services Committee oversight hearing on FSOC's agenda, operations and structure. In opening remarks, Representative Jeb Hensarling (R-TX) observed that FSOC has earned "bipartisan...
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • November 18, 2015

              CFTC Chair Massad Outlines CFTC's End-of-Year Agenda

              CFTC Chair Timothy Massad outlined several initiatives the CFTC will complete before the end of the year. The initiatives included the following: issuing a request for comments on the reporting standards for a list of priority swap fields in order to improve data reporting, holding an open meeting...
            • November 17, 2015

              CFTC to Hold Open Meeting to Consider Automated Trading Proposal

              CFTC Chair Timothy Massad announced that the CFTC will hold an open meeting on November 24, 2015 at 9 a.m. to consider a Notice of Proposed Rulemaking for the regulation of automated trading.
            • November 16, 2015

              CFTC Chair Timothy Massad Considers Central Clearing in an Evolving Market

              CFTC Chair Massad outlined regulators' ongoing efforts with central clearing. He provided an overview of the regulatory framework in an evolving market. Speaking at the CME Group's Financial Leadership Conference, Chair Massad acknowledged market criticism of the current regulatory framework and...
              Steven.Lofchie@cwt.com's picture
              Commentary by Steven Lofchie
            • April 30, 2015

              CFTC Chair Massad Discusses "Fine-Tuning" CFTC Rules to Address Commercial End Users' Concerns

              CFTC Chair Timothy Massad discussed the CFTC's efforts to address commercial end users' concerns at the 18th Annual National Energy Restructuring Conference. CFTC Chair Massad reiterated the CFTC's intention to "fine-tune" its rules and touched on specific areas of concern that the CFTC will...
            • March 17, 2015

              CFTC Chair Massad Advocates Larger CFTC Budget (with Lofchie Comment)

              CFTC Chair Timothy Massad spoke about fine-tuning and finishing CFTC rules in progress, increasing the "vigorous financial surveillance" of futures commission merchants ("FCMs"), and maintaining strong and stable clearinghouses. He delivered his remarks at the National Grain and Feed Association's...
            • January 20, 2015

              CFTC Chair Massad Discusses Cross-Border Harmonization (with Lofchie Comment)

              At the Asian Financial Forum, CFTC Chair Timothy Massad spoke about the importance of creating a strong international regulatory framework in order to harmonize cross-border swaps. Chair Massad explained that his goal would be to work with regulators to create a framework that provided transparency...
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