Chairman Frank Lucas today released the following statement on Scott O'Malia's last day as Commissioner of the Commodity Futures Trading Commission (CFTC). Last month, O’Malia announced he would resign to pursue other opportunities.
Oversight of the Swaps and Futures Markets: Recent Events and Impending Regulatory Reforms
July 25, 2012 - The House Agriculture Committee held a public hearing to examine the collapse of Peregrine Financial Group, Inc., the LIBOR manipulation, and receive an update on MF Global and Dodd-Frank implementation. PFGBest filed for bankruptcy shortly after regulators froze their operations through emergency enforcement actions. More than $200 million in customer funds are missing.