Energy Risk USA: Dodd-Frank implementation 'maddening', says O’Malia
CFTC commissioner blasts “adhocracy” of last-minute exemptions to Dodd-Frank rules
The US Commodity Futures Trading Commission (CFTC) practice of finalising rules to implement the Dodd-Frank Act and then granting last-minute exemptions is "maddening" and detrimental to open government, according to CFTC commissioner Scott O'Malia.
Speaking at the Energy Risk USA conference in Houston on May 14, O'Malia accused the agency of rushing to finalise Dodd-Frank rules, leaving it with no choice but to offer relief to "unworkable" regulation.
"This is no way to develop the rules... We
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