WASHINGTON, March 7, 2013 – Sen. Debbie Stabenow, D-Mich., chairwoman of the Senate Committee on Agriculture, Nutrition and Forestry, and ranking member Thad Cochran, R-Miss., (R-MS), today asked stakeholders and the public to make recommendations on the reauthorization of the Commodity Futures Trading Commission (CFTC).
The senators recently announced that the committee will begin the CFTC reauthorization process. Both senators say the process will be an “open, bipartisan one.”
“This year’s reauthorization comes at an important, but challenging time. Domestic regulators like the CFTC continue to implement the Wall Street Reform and Consumer Protection Act and work to harmonize that legislation globally,” the senators wrote in a letter to stakeholders. “Also, these markets are evolving rapidly and face extraordinary regulatory and market pressures. The unacceptable failure of companies like MF Global has raised questions about how better to protect customers. These are issues that we are prepared to grapple with in the coming year.”
The senators, in the letter, said they have not predetermined any actions or legislative text in regards to the reauthorization.
“We believe that it is important to have conversations about a broad range of CFTC-related issues including market oversight, agency oversight and resources, and statutory authorities,” the senators wrote.
The senators asked for recommendations and comments to be submitted by May 1 to cftcreauthorization@ag.senate.gov. Questions should be directed to 202-224-2035.
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