David Scott actually said...

"So the markets are global, as you said, and inevitably you are dislocating the marketplace."

"Over a period of time we have had this issue of the definition of U.S. person, dealing with cross-borders."

"The personal liability regime for a senior manager, for example, at a clearing members who do nothing to stop reckless manipulative behavior on their watch?"

"Yes. One of the concerns I had was the unfortunate financial burden that some of this had on you."