During his term as Commissioner, Mr. Giancarlo pulled off a trifecta. He: (i) prevented the CFTC's rules from getting any worse (i.e., neither the position limits rule nor Regulation AT was adopted in part because of Mr. Giancarlo's work in calling attention to their deficiencies); (ii) kept the focus on issues affecting the market currently and likely to affect the market in the future; and (iii) remained civil yet steadfast with those with whom he had deep policy disagreements.…

In his remarks, Chair Massad stated:

"When I and my fellow Commissioners, Sharon Bowen and Chris Giancarlo, joined the CFTC together in June of 2014, it already had written most of the rules required by the Dodd-Frank Act. However, there were many criticisms and concerns. We inherited the task of finishing and improving this framework." [Emphasis supplied.]

In many ways, Chair Massad's freedom to re-examine and re-think the regulations adopted under former Chair Gensler…

Although President Obama did not make material use of his executive authority in the area of financial services, there are many ways that President-elect Trump may choose to do so. Control of the Consumer Financial Protection Bureau ("CFPB"), which is held directly by a sitting president, offers a good illustration of the means through which President-elect Trump could effect change with the use of executive authority.

The CFPB on the use of evidence of "disparate impact" to prove…

CFTC Commissioner J. Christopher Giancarlo opposes the current draft of Regulation AT.(See .) Given his strong position on the matter, and the universal opposition of buyers and sellers to it, Regulation AT, as proposed, is effectively dead. Even if the proposal was taken up by the current CFTC and forced through by a two-to-one vote, the regulation could be overturned easily by the new Congress pursuant to the .