Today, in response to the Commodity Futures Trading Commission’s (CFTC) supplemental notice of proposed rulemaking regarding Regulation AT, FIA and the FIA Principal Traders Group (FIA PTG) submitted comments opposing overly prescriptive regulation of automated trading.
The annual International Futures Industry conference in Boca Raton, Fla. highlighted what the industry hopes to be a return of balance on the regulatory front. FIA President and CEO Walt Lukken, in his opening remarks, talked about how the pendulum had swung too far in the direction of proscriptive rules since the 2008 credit crisis thanks in part to the 22,000 separate Dodd-Frank Act rules, and that it was time for balance. Lukken said that the industry’s innovative muscles had atrophied due to the deluge of regulations and that it was time “to get back to the gym.”
The FIA announced the induction of 14 members into the FIA Futures Hall of Fame. They join 131 other honorees in the Hall of Fame, which was established in 2005 on the occasion of FIA’s 50th anniversary. The 14 new members were honored at an awards ceremony during the 42nd annual International Futures Industry Conference in Boca Raton, Fla.
FIA today announced the election of directors to its board at its annual meeting in Boca Raton, Fla. Thirteen directors were elected at this meeting for one and two-year terms. Eric Aldous of RBC Capital Markets LLP and Jason Radzik of BNP Paribas SA joined the board for the first time, serving two-year terms.
In response to the executive order issued today by the White House that directed the Treasury Secretary to conduct a 120-day review of financial system regulation, FIA released the following statement from FIA President and CEO Walt Lukken.