Washington—Senator Dianne Feinstein (D-Calif.) released the following statement in response to the Commodity Futures Trading Commission’s (CFTC) proposal to leave the de minimis threshold for swap dealer registration at $8 billion instead of lowering it to $3 billion as set in the CFTC’s original rule:
“By maintaining a higher registration threshold for swap dealers, the Trump administration is seeking to further undermine the ability of Dodd-Frank to protect against another economic crisis. That’s the wrong move.
“The CFTC has failed to demonstrate how it would apply appropriate oversight of energy swaps with an $8 billion threshold. Until it can provide those answers, I’ll continue to oppose leaving the threshold at $8 billion rather than lowering it to $3 billion, as originally required.
“The Trump administration’s reckless push for more deregulation could pave the way for another crisis. I urge the CFTC to reconsider this proposal.”