Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002

You Are Here: Home » Government Documents » CFTC IG Report on formulation of cost benefit analyses for four separate Dodd-Frank rulemakings

CFTC IG Report on formulation of cost benefit analyses for four separate Dodd-Frank rulemakings

by on

An Investigation Regarding Cost-Benefit Analyses Performed by the Commodity Futures Trading Commission in Connection with Rulemakings Undertaken Pursuant to the Dodd-Frank Act, Office of the Inspector General Commodity Futures Trading Commission, April 15, 2011

  • “Although the development of a uniform methodology appeared to be an equal effort between the Office of General Counsel and the Office of Chief Economist, in practice the cost benefit analyses involved less input from the Office of Chief Economist, with the Office of General Counsel taking a dominant role. For the four rules we reviewed, the cost-benefit analyses were drafted by Commission staff in divisions other than the Office of Chief Economist. Staff from the Office of Chief Economist did review the drafts, but their edits were not always accepted.”
  • “The IG’s report confirms the CFTC’s focus on speed rather than deliberation and its bare minimum approach to cost-benefit analysis. We cannot unleash a wave of new regulations without an understanding of the impact they will have on the markets and the economy. The very principle behind cost-benefit analysis and straightforward good government is balance – ensuring regulations’ costs to the economy don’t outweigh the benefits,” said Rep. Frank D. Lucas, Chairman of the House Agriculture Committee.”
    • LinkedIn

    Sorry, comments are closed for this post.