Just when it looked as though the Commodity Futures Trading Commission was going to have some stability, another commissioner has announced his departure. On Monday afternoon, Commissioner Scott O’Malia notified President Barack Obama of his resignation, effective Aug. 8, 2014.
In the letter, O’Malia, a Republican, called his time on the Commission an “honor and privilege,” and referenced his role in Dodd-Frank Act rulemaking. “Although I did not support all 63 rules that the [CFTC] has implemented under Dodd-Frank, I am pleased to have contributed to the policy deliberations to improve Commission rulemakings and encouraged the Commission to be mindful of negative policy outcomes.”
