CFTC analysis of Dodd-Frank costs 'non-existent', says Sommers
Costs and benefits of proposals were not properly studied, according to CFTC commissioner Jill Sommers - a failing that could expose its rules to legal challenges, lawyers warn
The Commodity Futures Trading Commission (CFTC) has conducted almost no cost-benefit analysis on its proposed Dodd-Frank rulemakings, one of its commissioners has revealed – despite a legal requirement to do so and an order from US president Barack Obama issued at the start of this year requiring agencies to propose or adopt rules only where the benefits justify the costs.
A failure by the
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