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Lawmaker’s Love Fest With CFTC Chief Dissolves in Split on Bill

The honeymoon is over for the top U.S. derivatives regulator.

Timothy Massad, the head of the Commodity Futures Trading Commission, was showered with praise for the past year by Representative K. Michael Conaway, the Texas Republican who leads the House committee overseeing the agency. Conaway said he was “tickled” by Massad, who was “doing a great job” as the new “sheriff” of the $700 trillion swaps market.