CFTC Commissioner O’Malia’s Opening Statement at Cross-Border Guidance and Exemptive Order Open Meeting

CFTC Commissioner Scott D. O’Malia delivered a speech to fellow CFTC Commissioners and international regulators thanking them for their work in modifying the Cross-Border Guidance and Exemptive Order. In his remarks, Commissioner O’Malia advocated his preference for engaging international regulators before the release of the Proposed Guidance instead of imposing statutorily weak guidance in haste. In addition, Commissioner O’Malia supported a 75-day comment period on the Exemptive Order in order to market participants to comply with the CFTC’s last-minute guidance. 

See: Commissioner O’Malia’s Opening Statement.