The long and winding road to Dodd-Frank
The road ahead
Progress has been painfully slow as the US Commodity Futures Trading Commission (CFTC) crafts the rules mandated by the Dodd-Frank Act. The law, which was passed in the aftermath of the 2008 financial crisis, ordered the agency to bring greater transparency to the market for over-the-counter derivatives, but left the details for the CFTC and other agencies to figure out. As a result, CFTC chairman Gary Gensler and his fellow commissioners have become bogged down in a Byzantine rule-making
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