It’s only fitting that on the first anniversary of the Dodd Frank Act (DFA), that my favorite (and most insightful, not to mention funny) blogger on the topic, the one and only Streetwise Professor should post yet another damning indictment of this flawed legislation.
As the Prof says;
It is hard to pick the Worst of Frank-n-Dodd. There is much to choose from, and the competition is intense. There is one element, though, that is particularly indefensible, and which happens to be in the news now, so it will get special billing in this Special Anniversary Post: The Swaps Execution Facility (SEF) mandate.
It’s therefore reassuring, to see the Professor agrees with my post yesterday, in that sanity may at last prevail, in the area of SEFs, with the introduction of Senator Scott Garrett’s bill (H.R. 2586) “the Swap Execution Facility Clarification Act”, which requires the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) to finalize swap execution facilities (SEFs) rules that allow the swaps market to naturally evolve towards the best form of execution over time.
Streetwise Professor’s full blog
Filed under: CFTC, Dodd Frank, OTC, Regulation, SEF, SWAPS |
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