PT - JOURNAL ARTICLE AU - Philip McBride Johnson TI - Risk and the CFMA AID - 10.3905/jai.2005.523085 DP - 2005 Jun 30 TA - The Journal of Alternative Investments PG - 96--99 VI - 8 IP - 1 4099 - https://pm-research.com/content/8/1/96.short 4100 - https://pm-research.com/content/8/1/96.full AB - The Commodity Futures Trading Commission gives itself enormous praise for legislation enacted in year 2000 and known as the Commodity Futures Modernization Act (CFMA). Is such adulation really warranted? This article endeavors to examine several of the new risks that the CFMA has created in its quest to eliminate “prescriptive” regulation and to offer new trading alternatives to major market participants while liberalizing the operations for the organized exchanges as well.