CFTC Commissioner Bart Chilton’s Statement on Cross-Border Guidance and Exemptive Order: “Just Say’n”

Commissioner Chilton commended the CFTC, saying “we’ve done way more than other financial regulators.”

Lofchie Comment:  I agree with Commissioner Chilton that the CFTC has done way more than other financial regulators.  However, financial regulators are better judged on the quality of their work than quantity.  In this regard, according to Commissioner Chilton, the CFTC may “leave a thread hanging loose.”  On this issue, we do not agree.  As I commented separately in regard to the CFTC’s action, the CFTC would have done better by the country in issuing a definitive proposal for public comment; had it done so, it would have received comments going beyond a loose thread.

See: Commissioner Chilton’s Statement.