The long and winding road to Dodd-Frank
As the Dodd-Frank rule-making process drags on, US energy companies are wondering when they will finally have clarity about the law’s impact on their business. Alexander Osipovich examines some of the key issues being thrashed out in the months to come
Progress has been painfully slow as the US Commodity Futures Trading Commission (CFTC) crafts the rules mandated by the Dodd-Frank Act. The law, which was passed in the aftermath of the 2008 financial crisis, ordered the agency to bring greater transparency to the market for over-the-counter derivatives, but left the details for the CFTC and other agencies to figure out. As a result, CFTC chairman Gary Gensler and his fellow commissioners have become bogged down in a Byzantine rule-making
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