CFTC Commissioner Seeks Change To Dodd-Frank Swap Dealer Rules

By  |  April 1, 2013
 | 

CFTC Commissioner Scott O’Malia is coming out against certain swap dealer policies put in place by the Dodd-Frank Act, reports BankCreditNews.com.

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    Under Dodd-Frank, swap dealers are left to partially self-report their actions and establishes a threshold of $8 billion over year.

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    “We missed an opportunity to really define that space and explain to the market what swap dealing is relative to commercial hedging,” O’Malia said. “We gave the market a vague $8 billion notional threshold and then further muddled the issue by being vague as to how you count to that threshold.”

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