Dodd-Frank Swaps Rules Deadline ‘Unrealistic’, O’Malia says

The Dodd-Frank Act’s “unrealistic” July deadline for rules to govern the swaps market may undermine regulators’ efforts to increase transparency and reduce risk, Commodity Futures Trading Commission member Scott O’Malia said in a New York speech.

“The tight one-year implementation time frame for Dodd-Frank may encourage some to ignore the fundamental preferences of swaps market participants and do a regulatory cut-and-paste job,” O’Malia, a Republican, said today in remarks prepared for a Tabb Forum conference.