<p><span>Today, the Commission considers efforts to safeguard the resilience of four swap dealers in the European Union (“EU”).</span><a href="https://www.cftc.gov/PressRoom/SpeechesTestimony/romerostatement060723e# ftn1">[1]</a><span> The proposal is part of the Commission’s “substituted compliance” framework—a framework that promotes global harmonization with like-minded foreign regulators that have rules, supervision and enforcement that are comparable in purpose and effect to the CFTC. Our capital rules are a critical pillar of the Dodd-Frank Act reforms. We must ensure that our comparability assessments are sound and do not increase risk to U.S. markets.</span></p>
June 2, 2023- Patrick McHenry (NC-10), Chairman of the House Financial Services Committee, and Glenn "GT" Thompson (PA-15), Chairman of the House Committee on Agriculture, releas.
At 12:01 p.m. on January 20, 2017, federal regulatory policy dramatically shifted from the unparalleled expansion of the Obama Administration to a reform agenda under President Donald Trump. During the Obama years, the nation’s regulatory burden increased by more than $122 billion annually as a result of 284 new “major” rules (roughly defined as those costing the private sector at least $100 million per year). The Trump Administration, in its first six months, launched a multifaceted reform agenda.
While the initial swap dealer enforcement actions brought by the Commodity Futures Trading Commission (CFTC) focused on swap data reporting failures, recent enforcement efforts have.
<p><span>Thank you to FIA and SIFMA. It is a daunting task to give a keynote on a Friday that is the last day of a conference—particularly a conference that has had engaging substantive heavy content. It’s been such heavy content that some of you plunged yourselves into the freezing cold ocean after yesterday’s panels.</span><span> Please don’t do that after my speech, where I am going to talk about cyber risk and climate risk— two topics that I will admit can feel daunting.</span></p>