CFTC Chair Massad Defends Dodd-Frank Derivatives Regulations

CFTC Chair Timothy Massad emphasized the dangers of repealing Dodd-Frank, defended the derivatives regulations implemented under it, and discussed the future of the derivatives markets in the political and international arenas.

Speaking at the Economic Club of New York, Chair Massad addressed the impending transfer of power in the United States, and the next Administration's anticipated repeal or dismantling of the Dodd-Frank Act. He warned that "eliminating essential derivatives reforms would be a big step backward," and argued that regulators should continue to make improvements to derivatives markets reforms – particularly to those that concern automated trading and cybersecurity – instead of "refight[ing] the last war."