“It’s football season and there’s a saying in the sport that a team getting close to the goal line is in the “red zone.” CFTC’s Dodd-Frank implementation and rulemaking processes are in the red zone, too.
It’s been a long drive down the field. We have finalized roughly two-thirds of the 60 rules we were charged with promulgating under the financial reform law. It’s taken longer than some of us hoped at the kickoff, but now the goal line is in sight.
I’ve put together an estimated time-line that clearly shows—on just one page—how close we are to completing the process. Many more rules will be finished by the end of the year. A few will move over into next year, primarily so that businesses, market participants and foreign regulators can make the practical adjustments they’ll need to make.”
Read Commissioner Chilton’s full speech here