Caroline D. Pham, Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), addressed the Financial Stability Oversight Council on December 12, 2025. In her remarks, she acknowledged Secretary Bessent and Deputy Assistant Secretary Skinner for their leadership and collaboration on the Council.
Pham expressed support for the Council’s emphasis on economic growth as essential to maintaining financial stability in the United States. She highlighted recent actions by the CFTC aimed at reducing regulatory burdens and fostering market activity.
"This year, the CFTC has unlocked many tens of billions of dollars—over $25 billion at least—of capital and collateral regulatory relief that can now be redeployed towards credit and financing for businesses and households to drive U.S. economic growth," said Pham.
She also noted that the agency had removed duplicative and excessive regulations, which is expected to result in substantial annual cost savings for market participants. "The CFTC has also eliminated duplicative, unnecessary, and excessive regulatory requirements that will achieve an estimate of hundreds of millions of dollars in annual cost savings for our market participants," she added.
Pham concluded her remarks by thanking Council members for their continued partnership and opportunity to contribute to these efforts.
