Representative K. Michael Conaway, the Texas Republican who leads a committee that overseas the main U.S. derivatives regulator, said Dodd-Frank has become a “lightning rod.”
At a January conference in Miami, he told a group of commodity traders that he plans to propose legislation this year that would change some derivative rules. Conaway said he will couch the effort not as altering Dodd-Frank, but as part of a routine review of legislation that governs the Commodity Futures Trading Commission’s regulatory powers.
“You just mention it, and they just close up, shut up,” Conaway said of lawmakers and Dodd-Frank.