OTC MARKET NEWS Powered By Quantifi

CFTC’s Scott O’Malia to Resign From U.S. Swaps Regulator 

July 22, 2014
Silla Brush, Bloomberg

Scott O’Malia, a Republican who used his position on the Commodity Futures Trading Commission to criticize some of the agency’s efforts to rein in the $700 trillion global swaps market, said he will resign next month.

O’Malia, 46, the longest-serving member of the current CFTC panel, will step down effective Aug. 8 after more than four years at the agency, he said in a letter released today.

O’Malia is leaving as the CFTC transitions to a new slate of commissioners and shifts from writing to enforcing rules put in place under the 2010 Dodd-Frank Act.

“Although I did not support all 63 rules that the commission has implemented under Dodd-Frank, I am pleased to have contributed to the policy deliberations to improve commission rulemakings,” O’Malia said in a resignation letter sent today to President Barack Obama.

Read more: Bloomberg

Comments are closed on this post.


Submit your email to receive our newsletter