News

CFTC reauthorization hearing Wednesday

Senate Ag Committee Chair Debbie Stabenow and Ranking Member Thad Cochran have announced the committee will hold a hearing in preparation to reauthorize the Commodity Futures Trading Commission next Wednesday, July 17th in Washington.

This is the first in a series of hearings and will feature testimony from market participant and stakeholders. Stabenow says the reauthorization process “is an opportunity to examine these derivatives markets and weigh policy changes that would help protect markets and the public.”

Cochran says it will be a transparent, bipartisan effort to see what additional customer protections may be needed in light of the failures of firms like MF Global and Peregrine Financial. Cochran says “we must ensure that farmers and business owners are able to manage risk without fear.”

The hearing will be July 17th, 2:30 pm EDT, Room 216 in the Hart Senate Office Building.

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.

Scheduled to appear:

Panel I

• The Honorable Kenneth E. Bentsen, Jr., President, Securities Industry and Financial Markets Association, Washington, DC
• Mr. Terrence A. Duffy, Executive Chairman and President, CME Group, Chicago, Illinois
• Mr. Adam Cooper (on behalf of Managed Funds Association), Senior Managing Director & Chief Legal Officer, Citadel LLC, Chicago, IL
• Mr. Dennis Kelleher, President & Chief Executive Officer, Better Markets, Washington, DC
• Mr. Daniel J. Roth, President & Chief Executive Officer, National Futures Association, Chicago, IL

Panel II

• The Honorable Walter L. Lukken, President and Chief Executive Officer, Futures Industry Association, Washington, DC
• Mr. Gene A. Guilford (on behalf of the Commodity Markets Oversight Council), National & Regional Policy Counsel, Connecticut Energy Marketers Association, Cromwell, CT
• Mr. John M. Heck (on behalf of the National Grain & Feed Association), Vice President, The Scoular Company, Omaha, NE
• Mr. Donald A. Russak (on behalf of the American Public Power Association), Executive Vice President and Chief Financial Officer, New York Power Authority, White Plains, NY
• Mr. Jim Colby, Assistant Treasurer, Honeywell International, Morristown, NJ