On April 18th, I will be visiting the Commission in Washington D.C. with one purpose - to bring the opinions of NIBA's members directly to the CFTC Commissioners.
CFTC's response to the Dodd-Frank legislation has resulted in over 30 proposed regulations so far. While some of those will primarily effect derivatives trading, swaps and forex, several proposals also result in increased recordkeeping and reporting for all NFA registrants. Proposals such as those which would regulate conflicts of interest in the research and analysis areas of your office have the potential to affect all of our members.
The NIBA has been steadfast in opposing new rules and changes that increase paperwork, cause repetitive reporting and ultimately, likely raise fees for our members.
I urge you to visit the CFTC's website and read the list of proposals the Commission posted there - www.cftc.gov/LawRegulation/DoddFrankAct. I also urge you to keep up with Chairman Gensler's testimony and reports, as well as that of the other Commissioners. Those are also posted on the CFTC Website.
April 18 is your opportunity to have your opinion heard. Send me your thoughts on any of the proposals or anything else in which the Commision is involved. I will make sure the Commission sees and hears your opinion. Your membership fees help provide this important association benefit. I will be at our April 20 program in New York to update you on the Washington meetings.
Please send your opinions and comments to me at melinda@futuresrep.com by Thursday, April 14.
Warm regards,
Melinda Schramm, NIBA Founder/Chairman
