CFTC's O'Malia says agency took its eye off the ball

Commissioner Scott O'Malia compared the Commodity Futures Trading Commission (CFTC) to a child who lost interest in an old toy in favor of a new one in its handling of the MF Global crisis at a conference at New York Law School according to a Bloomberg story.

O'Malia, one of two Republican commissioners at the CFTC, was referring to the agency's focus on writing swap rules as mandated by the Dodd-Frank Act and "averting its gaze from the futures markets and their developments."

Little Child’ CFTC Ignores Futures Oversight Role, O’Malia Says

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