Clayton told Senators at his confirmation hearing last month that rules related to Dodd-Frank should be reviewed.
And Giancarlo, who is running the CFTC on an acting basis while awaiting Senate confirmation, recently ordered an agency-wide review of rules to make them less costly for business. He says the regulator is “reinterpreting” its mission.
With Republicans in charge of Congress and the White House, some industry groups say it would be counterproductive for the Democratic commissioners to use their temporary power to block the deregulatory push. Soon enough, they say, the agencies will be back to full strength with three Republican appointees controlling the agenda.
“Sure, they can obstruct things for a period of time, but that also may marginalize their ability to get things done when there’s a full commission,” said Tom Quaadman, senior vice president of the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness.
This story was provided by Bloomberg News.