Agricultural/Financial correspondent
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Sep 8, 2011

CFTC may grant additional swaps relief this year

WASHINGTON (Reuters) – The U.S. futures regulator looks set to grant the massive swaps market more relief from complying with new financial reforms until sometime in 2012 as the agency remains well behind in completing many of the largest and most contested rules.

The U.S. Commodity Futures Trading Commission first voted in July to delay some swap rules that had been set to go into effect. The new effective dates were set as late as December 31, or until the agency had finalized the rules.

Sep 2, 2011

Obama backtracks on smog plan, bows to big business

WASHINGTON (Reuters) – U.S. President Barack Obama put a stop on Friday to new rules that would limit smog pollution, unexpectedly reversing course on a key policy measure after businesses said it would kill jobs and cost them billions of dollars.

Obama said the decision to withdraw the draft Ozone National Ambient Air Quality Standard by the Environmental Protection Agency was part of an effort to reduce regulatory burdens for business.

Sep 2, 2011

Obama to drop smog initiative

WASHINGTON (Reuters) – President Barack Obama unexpectedly asked the Environmental Protection Agency on Friday to withdraw a plan to limit smog pollution, handing a big win to business and Republicans who have argued the initiative was a job killer in uncertain times.

Obama said the move to kill one the EPA’s major initiatives to clean up the environment was part of a broader government effort to reduce regulatory burdens and uncertainty.

Aug 31, 2011

US should publicize energy trader positions -group

WASHINGTON, Aug 31 (Reuters) – The U.S. futures regulator
should be required to make public the size and nature of energy
trader positions each week, a consumer advocacy group said on
Wednesday, the latest call to change the way market-sensitive
data is handled.

Tyson Slocum, director of Public Citizen’s energy program,
said in a letter the group recognizes that daily disclosure of
trading position data would be problematic, so it proposed that
company-specific data be released by the Commodity Futures
Trading Commission two weeks after the daily close.

Aug 25, 2011

CFTC plans Sept vote on Dodd-Frank compliance

WASHINGTON (Reuters) – The U.S. futures regulator expects to vote next month on a pair of proposals that would outline when the market would have to comply with new steps designed to bring more oversight to the multi-trillion-dollar swaps market, the chairman of the agency said on Thursday.

Gary Gensler, head of the Commodity Futures Trading Commission, said the proposals would allow the public to comment on a timetable for when the industry must comply with new Dodd-Frank rules for swap clearing and trading, internal business documentation and margin rules for uncleared swaps.

Aug 24, 2011

Amtrak back up to speed after earthquake disruptions

WASHINGTON (Reuters) – Amtrak train service between Baltimore and Washington was back to normal on Tuesday night after delays following a strong earthquake that hit the U.S. East Coast and Canada, the passenger train operator said.

Amtrak reduced speeds along the Northeast Corridor between Washington and Baltimore on Tuesday afternoon while crews looked for signs of damage to tracks, stations and other rail infrastructure.

Aug 23, 2011

Earthquake disrupts Amtrak, commuter service

WASHINGTON (Reuters) – Amtrak said it is operating trains at reduced speeds between Baltimore and Washington on Tuesday while crews inspect tracks, stations and other rail infrastructure following a strong earthquake that struck the U.S. East Coast and Canada.

The passenger train operator said in a statement there were no injuries and passengers should expect delays. Amtrak reported normal service along the Northeast Corridor between Boston and north of Baltimore.

Aug 12, 2011

Obama honors Super Bowl champ Packers despite rivalry

WASHINGTON (Reuters) – President Barack Obama honored the Green Bay Packers on Friday for winning the Super Bowl despite being a die-hard fan of the team’s long-time rival to the south, the Chicago Bears.

Green Bay, winner of four Super Bowls and 13 National Football League titles overall, beat the Pittsburgh Steelers 31-25 in Dallas in February for their latest championship, earning the annual invitation to the White House extended to the game’s winner.

Aug 4, 2011

CFTC to finish whistleblower, swap data rules

WASHINGTON, Aug 4 (Reuters) – The U.S. futures regulator,
is expected to finalize on Thursday new measures outlining
requirements for swap data collectors and guidelines for
whistle-blowers as it races to meet its obligations required
under last year’s financial market overhaul law.

The Commodity Futures Trading Commission is far behind
schedule in a frenzy to complete nearly 50 rules. The three
rules presented Thursday, if passed, will complete about 20
percent of the regulations required under last year’s
Dodd-Frank financial reform law that gave it oversight of the
$600 trillion global swaps market.

Aug 4, 2011

Regulators brace for Dodd-Frank court fights

WASHINGTON, Aug 4 (Reuters) – U.S. regulators are
scrambling to bulletproof dozens of financial reforms after a
court last month tossed out an important part of the Dodd-Frank
financial oversight law.

The federal appeals court ruling faulted the Securities and
Exchange Commission for conducting a flawed economic analysis
to support a rule to make it easier for shareholders to
nominate directors to corporate boards, a process called “proxy
access.” [ID:nN1E76L0LS]

    • About Christopher

      "Currently based in Washington, Christopher reports on agriculture in Congress and the U.S. Agriculture Department. He also is actively involved in covering regulatory reform, with a focus on the U.S. Commodity Futures Trading Commission."
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