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SPEECHES & TESTIMONY

  • Statement on Support of the Dodd-Frank Rulemaking of Chairman Gary Gensler

    Statements for the record on each rule:

    I support the proposed joint rulemaking with the Securities and Exchange Commission (SEC) that requires reporting by investment advisers to private funds that are also registered as commodity pool operators (CPOs) or commodity trading advisors (CTAs) with the CFTC.  I also support the CFTC’s proposed amendment to compliance obligations of CPOs and CTAs.  The joint rule requires private fund investment advisers with assets under management totaling more than $150 million to provide the SEC with financial and other trading information.  Private fund investment advisers with assets under management totaling more than $1 billion would be subject to heightened reporting requirements.  I support the CFTC rule that would bring similar reporting to CPOs and CTAs with assets under management greater than $150 million that are not otherwise jointly regulated.  This is to ensure that similar entities in the asset management arena are regulated consistently.  Lastly, the proposal repeals certain exemptions issued under Part 4 of the Commission’s regulations so the Commission will have a more complete picture of the activity of operators of and advisors to pooled investment vehicles in the commodities marketplace.

    Now I’d like to turn to my fellow commissioners for their opening statements.

    Last Updated: January 26, 2011



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