“Cheers to a new year and another chance for us to get it right.”
Oprah Winfrey, 1954-
Oprah Winfrey is an American media proprietor, actress, producer & philanthropist. Looking back on 2016, I thought her words were particularly appropriate to our industry going forward into the new year.
CFTC Chairman Massad has indicated he will leave the Commission on January 20, before his term is officially over. He has been outspoken in his support of AT regulation, particularly in favor of allowing certain proprietary information, sometimes referred to as “the secret sauce” of a trader’s program, to be accessed by the Commission without the use of a subpoena. As Chairman, he has also overseen the heavily criticized position limit proposals.
It is rumored the new administration favors current Commissioner Giancarlo to take over the chairmanship at the CFTC. During our meeting with Mr. Giancarlo in October, we reiterated NIBA’s position on AT regulation as a whole. If Mr. Giancarlo elects to stay at the CFTC after January 20, changes could happen quickly in the areas of policy and agenda. Of course, the White House will also have the opportunity to nominate candidates to fill the vacancies at the Commission, including the two current ones.
The new year also brings the chance for NIBA to make sure we are getting it right for the membership. The 2017 schedule includes four general meetings:
- February 23, Newport Beach, CA
- April 26, New York City
- July, DePaul University, Chicago
- September, Chicago
Your membership entitles you to attend all four events at no additional cost.
As we toast to the new year, please take the opportunity to renew your membership. Additionally, please contact any member of the Board of Directors to volunteer to work on any event committee or to offer suggestions in order that we get it right for you.
Reminder: Voting is one way to “get it right.” CTA/CPO ballots or Internet votes are due at the NFA by February 6, 2017.
Best, Melinda
Melinda Schramm, Founder & Chairman
