|
Chairwoman Stabenow, Ranking Member Cochran announce first official hearing on CFTC reauthorization
Story Date: 7/1/2013
| |
Source: PRESS RELEASE, 6/28/13
Senator Debbie Stabenow (D-MI), Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, and Sen. Thad Cochran (R-MS), the Committee’s Ranking Member, today announced that the Committee will hold a hearing in preparation to reauthorize the Commodity Futures Trading Commission, with the first in a series of hearings scheduled for Wednesday, July 17, 2013 at 2:30 p.m. ET in room 216 of the Hart Senate Office Building. The hearing, “Reauthorization of the Commodity Futures Trading Commission,” will feature testimony from market participants and stakeholders who will address issues related to the Commodity Exchange Act and the CFTC generally (witnesses to be announced).
Stabenow and Cochran also announced that recommendations made by the public and stakeholders regarding CFTC reauthorization are now public and available for viewing on the Committee’s website here. The letters were submitted following a request made in March by Stabenow and Cochran for the public to weigh in on the process.
“Reauthorizing the CFTC is an opportunity to examine these derivatives markets and weigh policy changes that would help protect markets and the public,” Stabenow said. “As Ranking Member Cochran and I said earlier this year, this process will be transparent, bipartisan and consensus-driven. It’s important to address concerns with commodity market oversight generally as well as the need for additional customer protections in light of the failures of firms like MF Global and Peregrine Financial. At the end of the day, these markets must be safe for trading and we must ensure that farmers and business owners are able to manage risk without fear.”
“As part of the Agriculture Committee’s oversight responsibilities, we will conduct hearings to prepare for the reauthorization of the Commodity Futures Trading Commission. I look forward to these hearings providing the Committee with information about the Commission’s important work and what changes need to be considered to make it function better for consumers and the markets it oversees,” Cochran said.
“Reauthorization of the Commodity Futures Trading Commission”
Wednesday, July 17, 2013
2:30 p.m. ET
Room 216, Hart Senate Office Building
***A live webcast of the hearing can be viewed on the Committee’s website at http://ag.senate.gov.
|
|
|
|
