CFTC Commissioner Dawn Stump Addresses Key Regulatory Challenges

In an address at the FIA-SIFMA AMG Asset Management Derivatives Forum, CFTC Commissioner Dawn D. Stump offered her perspective on (i) regulatory harmonization, (ii) the CFTC's approach to cross-border swap regulation; (iii) the protection of data by regulators and regulated entities; and (iv) the CFTC's new position limits proposal.

Asset Managers

Ms. Stump observed that the CFTC's expanded regulatory authority under the Dodd-Frank Act has resulted in many asset managers becoming subject to CFTC regulation for the first time, in addition to being subject to SEC regulation. She acknowledged that this imposed burdens on both the regulated firms and on the CFTC itself. Ms. Stump said that the CFTC should focus its attention on those areas that were most important to its policy interests. (In this regard, Ms. Stump cited the agency's recently adopted amendments to CFTC Rule Part 4 (see previous coverage).) She also argued to reduce regulatory burdens for dual