S&P Global Platts quoted Haynes and Boone, LLP Partner Phil Lookadoo in an article about the White House’s plans to appoint a new commissioner and chairman of the U.S. Commodity Futures Trading Commission (GFTC).
Here is an excerpt:
President Donald Trump plans to nominate Treasury Department official Heath Tarbert to serve as commissioner and the next chairman of the US Commodity Futures Trading Commission, replacing Christopher Giancarlo, the White House said Wednesday.
Giancarlo, whose term expires in April 2019, has previously said he would not seek a second term and would stay on until the new chairman has been confirmed.
The changeover could have implications for rulemakings impacting energy sector derivatives, including a long-delayed action setting federal position limits, capital requirements for swap dealers, as well as recently proposed amendments to requirements for swaps execution facilities.
"Giancarlo has been a champion for making regulations work and the markets work, rather than seeking to get rules in place strictly from a Dodd-Frank perspective," said Phil Lookadoo, partner at Haynes and Boone. That stands in contrast to the approach taken by former CFTC Chairman Gary Gensler, who worked to put in place quickly regulations stemming from the new law, he said. Giancarlo has been "a breath of fresh air" for those who use the swap markets to hedge exposure to risk, he added.
To read the full article, click here.