Sommers blasts CFTC's approach to Dodd-Frank
Compliance timetable for new swap rules was too aggressive, says outgoing CFTC commissioner
The US Commodity Futures Trading Commission (CFTC) imposed unnecessary hardships on derivatives market participants by forcing them to comply with complex Dodd-Frank stipulations before they had time to adapt, according to outgoing CFTC commissioner Jill Sommers.
"Everybody is scared to death that if they're not in compliance, then we're going to file an enforcement action," says Sommers, who is planning to leave the commission at the end of March.
In an exclusive interview with Energy Risk
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