CFTC Commissioner Chilton's Address at the United Nations Urging Global Regulators to Go Fast, Fast, Fast

In this speech before the G-20 AMIS Roundtable on Public-Private Dialogue, Commissioner Chilton asserts that regulators are not moving fast enough, noting that regulators throughout the world "have not approved and or implemented financial reforms to ensure that there is some control over markets". Chilton suggests that the main, overarching goals of the Dodd-Frank Act are: (i) improved transparency, especially with OTC trading; (ii) lowering systemic risk with new capital and margin requirements; (iii) increased accountability; (iv) protecting market integrity. Chilton covers the following items in his speech:

• Global Reforms
• Cross-Border Issues
• A Revised Approach to the Global Reach of Dodd-Frank
• Excessive Speculation
• Technology

Commissioner Chilton urges that regulators move "fast, fast, fast." For example, he suggests that the CFTC provide only a 15-day comment period with respect to a new position limits proposal, and then to do "quickly what we had planned."

View speech in full here (links externally to CFTC website).