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Experts: CFMA’s principles‑based model spurred product innovation and U.S. market leadership
Summary
Former regulators and industry witnesses told the House Agriculture Committee that the Commodity Futures Modernization Act’s shift to core principles and self‑certification enabled faster product launches, greater competition and deeper U.S. derivatives markets.
WASHINGTON — Several witnesses at a congressional hearing on the Commodity Futures Trading Commission’s 50th anniversary credited the Commodity Futures Modernization Act (CFMA) with reshaping U.S. derivatives oversight and enabling faster innovation.
Dionna Downe, a former CFTC attorney who now advises industry, told the committee that the CFMA’s adoption of “principles‑based regulation” and a self‑certification path for exchanges allowed markets to…
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