CFTC's Berkovitz frustrated by lack of position-limits rule

13 June 2019 8:07pm
“In 2010, Congress instructed the commission to establish certain position limits in six to nine months,” Berkovitz, a Democrat, said at an industry conference* this week. “Now almost exactly nine years and three proposals later, the Commission has yet to complete its task.”

“I hope that we will complete it soon,” added Berkovitz, who served as the agency’s general counsel from 2009 to 2013.

CFTC staff have been working on a revised proposal, but “it may not be possible to present the proposal to the commission until early autumn 2019,” CFTC spokesperson Erica Richardson said. The commission’s current chairman, J. Christopher Giancarlo, is scheduled to depart in July.