Agricultural/Financial correspondent
Christopher's Feed
Jun 22, 2011

U.S. regulators likely lucked out on oil rigging case

WASHINGTON (Reuters) – U.S. regulators, eager to send a tough message to high flying oil markets by bringing its biggest ever oil manipulation case to court, may have simply gotten lucky.

The Commodity Futures Trading Commission announced in late May it was suing two well-known traders and two trading firms owned by Norwegian billionaire John Fredriksen for manipulating oil prices by buying and selling physical crude in Cushing, Oklahoma, the delivery point for the U.S. crude contract.

Jun 22, 2011

Analysis: Regulators likely lucked out on oil rigging case

WASHINGTON (Reuters) – U.S. regulators, eager to send a tough message to high flying oil markets by bringing its biggest ever oil manipulation case to court, may have simply gotten lucky.

The Commodity Futures Trading Commission announced in late May it was suing two well-known traders and two trading firms owned by Norwegian billionaire John Fredriksen for manipulating oil prices by buying and selling physical crude in Cushing, Oklahoma, the delivery point for the U.S. crude contract.

Jun 15, 2011

SEC moves to delay most security-based swaps rules

WASHINGTON, June 15 (Reuters) – The U.S. Securities and
Exchange Commission on Wednesday became the latest regulator
running behind schedule to delay a host of new regulations
overseeing the swaps market that were set to go into effect in
July.

The securities regulator said “substantially all” of the
new requirements pertaining to security-based swaps will not go
into effect on July 16 — a rapidly approaching deadline that
would have implemented parts of the Dodd-Frank financial reform
bill enacted nearly a year ago.

Jun 15, 2011

CFTC position limit plan not expected soon: Gensler

WASHINGTON (Reuters) – The head of the U.S. Commodity Futures Trading Commission said the agency will not introduce its long-awaited position limits plan anytime soon as the futures regulator heard renewed calls from lawmakers pushing it to act over high energy prices.

The Dodd-Frank law gives the CFTC the power to set limits on the positions investors can take to curb excessive speculation “as appropriate” in energy, metals and agricultural markets. The CFTC proposed its plan in January, and since then has received an estimated 12,000 public comments on the measure.

Jun 14, 2011

Regulators moves to delay swaps crackdown, bolster banks

WASHINGTON (Reuters) – U.S. regulators threw a temporary bridge across the increasingly awkward gap between the idea of regulating the $600-trillion swaps market and the reality of actually doing it.

In a move that will give the European Union time to catch up with the United States, the U.S. Commodity Futures Trading Commission conceded on Tuesday what market observers have long known — new swaps rules must be postponed.

Jun 14, 2011

U.S. moves to delay swaps crackdown, bolster banks

WASHINGTON, June 14 (Reuters) – U.S. regulators threw a
temporary bridge across the increasingly awkward gap between
the idea of regulating the $600-trillion swaps market and the
reality of actually doing it.

In a move that will give the European Union time to catch
up with the United States, the U.S. Commodity Futures Trading
Commission conceded on Tuesday what market observers have long
known — new swaps rules must be postponed.

Jun 14, 2011

CFTC delays derivative rules from July 16 deadline

WASHINGTON (Reuters) – The U.S. Commodity Futures Trading Commission proposed delaying rules for the huge derivatives market that had been automatically set to go into effect on July 16.

One year after the passage of the Dodd-Frank financial overhaul that ordered a crack-down on the $600 trillion derivatives market, regulators have not been able to meet the deadline for translating the legislation into specific provisions.

Jun 10, 2011

SEC seeks to ease concerns over derivatives

WASHINGTON (Reuters) – The U.S. securities regulator has stepped in to try to ease bankers’ and traders’ concerns over new derivatives rules set to take effect next month but which have not been written yet.

Under last year’s Dodd-Frank financial reform legislation, regulators have until July 16 for implementing changes in rules governing the $600 trillion over-the-counter global derivatives market.

Jun 7, 2011

CFTC meeting to discuss roadmap for Dodd-Frank rules

WASHINGTON, June 7 (Reuters) – The U.S. futures regulator
will meet next week to discuss how it will handle derivatives
market changes scheduled to automatically kick in July 16, as
part of a larger meeting on the effective dates of Dodd-Frank
financial reforms.

The meeting by the Commodity Futures Trading Commission
could provide some clarity for industry players worried about
the so-called self-executing provisions. Some former CFTC
officials and industry watchers said the agency threatens to
throw into question billions of dollars in derivatives into
legal limbo if U.S. regulators don’t create a short-term fix to
the market chaos. [ID:nN19279043]

Jun 2, 2011

US Senate bill would force CFTC to act on position limits

WASHINGTON, June 2 (Reuters) – An outspoken U.S. senator
who criticized the country’s futures regulator for failing to
crackdown on energy speculation said on Thursday he will
introduce legislation next week that will force the agency to
act.

Senator Bernie Sanders said the legislation would force
the head of the U.S. Commodity Futures Trading Commission to
use emergency authority to impose limits on the positions
investors can take in crude oil, gasoline and heating oil. The
move could occur without support from the majority of the
agency’s commissioners.

    • 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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