Mike Conaway: “I enter into the Record a statement from the Chamber of Commerce and would like to read a couple of paragraphs from…”

“I enter into the Record a statement from the Chamber of Commerce and would like to read a couple of paragraphs from that. ``This bill also takes a practical approach to address one of the most problematic areas of regulatory implementation in the global derivatives market: cross-border harmonization. Many end users operate internationally and are struggling to meet the changing demands of multiple, conflicting, and sometimes duplicative regulatory regimes. H.R. 2289 would require the CFTC to move quickly to make substituted compliance determinations that would significantly reduce needless complexity and uncertainty for U.S. businesses, without reducing market transparency. The Chamber also supports provisions in this bill intended to promote transparency and accountability in the CFTC's rulemaking process, including a requirement to conduct a cost-benefit analysis for new rules, and the establishment of an Office of the Chief Economist to support such analysis. Cost-benefit analysis has been a fundamental tool of effective government for more than three decades, and these requirements would help protect Main Street businesses, investors, and consumers from some of the unintended consequences of regulation.'' Chamber of Commerce of the United States of America, Washington, DC, June 8, 2015. To The Members of The U.S. House of Representatives: The U.S.…”