"The bill introduced by Congressman Ewing is a significant initiative toward completing reform of financial services regulation and establishing a more equitable regulatory environment for futures exchanges. By providing a comprehensive approach to the inter-related goals of modernizing exchange regulation, reforming Shad-Johnson and establishing legal certainty for the OTC market, this bill appropriately balances the interests of all participants in the financial services industry.
"Congressman Ewing held extensive hearings on these topics, listened to all views and concluded that the time is ripe to alleviate the excessive regulatory burdens that have greatly disadvantaged U.S. futures exchanges in comparison to their global competition. We hope that Congress will act expeditiously on this legislation to ensure that regulatory reform becomes part of the legacy of this Congressional Session.
"Our exchanges will work closely with Chairman Ewing and other members of the House to ensure that the all of the fundamental principles of this bill are enacted into law this year. We also look forward to seeing equally strong and forward-looking legislation introduced soon in the Senate."
