CFTC acting chairman Christopher Giancarlo’s
plan to simplify some of the agency’s
overly-complex post-crisis rules will come as a welcome relief
to the futures and options market.
Speaking at the International Futures Industry
Conference in Florida, Giancarlo announced the launch of
Project Kiss, for 'Keep It Simple Stupid’, which
will review the way that the CFTC’s rules,
regulations and practices are interpreted.
"It is about taking our existing rules as they are and
applying them in ways that are simpler, less burdensome and
less of a drag on the American economy," he said.
"To the extent that it is
possible to simplify [the CFTC's rules], I think a lot
of market participants would find it to be a worthy
James Schwartz, of counsel at Morrison Foerster, believes
that there would be widespread support for a regulatory pivot
away from overburdening regulation.
"The CFTC's rules under Title...