Swaps Lobbyist’s New CEO to Limit Role in CFTC Lawsuit
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The swaps industry lobbying group said Scott O’Malia, the U.S. regulator it hired to be chief executive officer, will limit his role in a lawsuit against the Commodity Futures Trading Commission he is leaving.
O’Malia, the longest-serving member of the CFTC, said this week he plans to leave the commission Aug. 8. He’ll join the International Swaps and Derivatives Association as CEO 10 days later, according to an ISDA statement today. ISDA is among three Wall Street lobbying groups that sued the CFTC in December, seeking to curb the overseas reach of its rules and rein in a regulatory barrage by former Chairman Gary Gensler.