CFTC Reauthorization Hearing Scheduled for Wednesday

CFTC Reauthorization Hearing Scheduled for Wednesday

Senate Ag Committee also releases input from stakeholders regarding the Commodity Futures Trading Commission

The Senate Agriculture Committee Friday finalized plans for 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. eastern.

The hearing will feature testimony from market participants and stakeholders who will address issues related to the Commodity Exchange Act and the CFTC generally.

In addition, letters from the public and stakeholders submitted following a request for input on the CFTC reauthorization process are now available online.

CFTC reauthorization begins with first hearing with Senate Ag Committee Wednesday.

Ag Committee Chairwoman Sen. Debbie Stabenow, D-Mich., said reauthorizing the CFTC is an opportunity to examine these derivatives markets and weigh policy changes that would help protect markets and the public.

"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," Stabenow noted. "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."

The meeting will take place in room 216 of the Hart Senate Office Building, but will also be webcast live on the committee's website at ag.senate.gov.

Serving on panel one:

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

Serving on panel two:

The Honorable Walter L. Lukken, President and Chief Executive Officer, Futures Industry Association, Washington, D.C.; Mr. Gene A. Guilford (on behalf of the Commodity Markets Oversight Council), National & Regional Policy Counsel, Connecticut Energy Marketers Association, Cromwell, Conn.; Mr. John M. Heck (on behalf of the National Grain & Feed Association), Vice President, The Scoular Company, Omaha, Neb.; 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, N.Y.; and Mr. Jim Colby, Assistant Treasurer, Honeywell International, Morristown, N.J.

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