Now that you've had a chance to reflect back on your time at CFTC, what are your thoughts about the agency, the way it runs and its effectiveness as a regulator?
I took a lot of comfort in the professional staff and especially in the operational efficiency of the organisation because it really is, I believe, under-funded compared to other regulatory agencies given its responsibilities. I think the way the agency was able to cover its territory and cover all the bases from a regulatory perspective with the resources that were given by Congress was quite extraordinary. That said, I also think that there's always room for improvement. There are sometimes institutional reasons why you can't be as innovative or as creative as you'd like to be in coming up with solutions.
Where does CFTC need to improve most in your view?
I felt that CFTC was going in the...