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It was 26 years ago that I first visited Japan as a student. When I landed in Osaka, I had a walkman and a skateboard. I was an 18-year-old kid from an automotive town in Michigan. I would be lying if I told you that I had visions of becoming a CFTC Commissioner with a goal of improved transparency in the derivatives markets.
This trip, I’ve returned -- armed with an iPod and a laptop, and I’m focused on market volatility and transparency. This is a far cry from my priorities when I first arrived as an 18-year-old student and the price of a barrel of oil was near its historic low of $10.42. Things have certainly changed since then.
One thing that hasn’t changed since my first visit is the extraordinary hospitality of my Japanese hosts. I sincerely appreciate the invitation from Executive Director Nobuo Tanaka to return to Japan to represent the U.S. Commodity Futures Trading Commission.
My remarks today will focus on two areas. First, the regulatory changes and financial reforms that are underway in the United States and, second, the opportunities that exist for the global community to bring greater transparency to the oil markets.
Click here for full remarks.
