In a framework published in the Harvard Business Law Review on June 15, Heath Tarbert, Chairman of the Commodity Futures Trading Commission, broadly advocated financial regulation based on broader principles rather than specific rules.
The argument for principles is that the approach entails less red tape and, ideally, encourages innovation. Tarbert voiced a desire to see the CFTC “stay ahead of the curve by reacting more quickly to changes in technology and the marketplace.”..