Mark-to-Market Taxation Will Hurt Us All

Consider it a warning sign when legislation coming off Capitol Hill includes language – even before it is enacted – indicating a federal agency will need to simplify its related rules. As former Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) Commissioners, we know too well the complexities in implementing rules to carry out legislative intent. Even more concerning is when legislation will negatively impact the functioning of the derivatives and equities markets, as well as the millions of retail investors who invest in them.