U.S. swaps regulator O'Malia to head bank lobby group
| Reuters
A member of the U.S. Commodity Futures
Trading Commission will become the new head of a bank lobby group that
is fighting the derivatives regulator in court over a crucial new rule
curtailing Wall Street.
The International
Swaps and Derivatives Association said on Wednesday that Scott O'Malia, a
Republican who often voted against new CFTC policy in the wake of the
financial crisis, will become the trade group's next chief executive.
O'Malia
will start his new job as of Aug. 18, ISDA said. The news came only
days after O'Malia said he planned to leave the CFTC as of Aug. 8.
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