Agricultural/Financial correspondent
Christopher's Feed
Mar 30, 2011

CFTC may propose two key measures in April: O’Malia

WASHINGTON (Reuters) – The U.S. futures regulator could propose its two key remaining regulations in late April but will not finalize most of its rules by a July deadline, a commissioner at the agency said on Wednesday.

The U.S. Commodity Futures Trading Commission has proposed the first drafts of most of its rules, but two key regulations remain — a detailed definition of swaps to be covered by its new rules, and the capital and margin needed for swaps dealers and major swaps participants.

Mar 29, 2011

Senate Ag Chair watching details of finreg rules

WASHINGTON, March 29 (Reuters) – The success of new U.S.
financial reform legislation from Congress could be judged by
the “devil in the details” yet to come from U.S. regulators
tasked with implementing the sweeping legislation, a top Senate
Democrat said on Tuesday.

The Dodd-Frank Wall Street reforms of 2010 gave regulators,
including the Commodity Futures Trading Commission and the
Securities and Exchange Commission, new found responsibility
including oversight of the roughly $600-trillion global
over-the-counter derivatives market.

Mar 28, 2011

Big commodity traders mount last stand on U.S. curbs

WASHINGTON (Reuters) – A global push to damp down wild swings in oil and other commodity prices reached a pivotal point on Monday as big traders mounted their last attack on a U.S. plan to limit the role of speculators.

Many of the world’s biggest commodity market participants such as U.S. agribusiness giant Cargill Inc are resisting new rules that would cap how many futures and related swaps contracts any one company can control.

Mar 25, 2011

Position limits would hurt investment goals: USCF

WASHINGTON (Reuters) – A U.S. futures regulator proposal that would place position limits in the commodities markets may not prevent manipulation or speculation, and would hurt the operators of commodity funds from meeting their investment goals, an exchange-traded fund manager said.

The U.S. Commodity Funds, a manager of leading ETFs U.S. Oil Fund and U.S. Natural Gas Fund, said on Friday that position limits, instead of meeting their goal of preventing excessive speculation, would adversely affect the value of the exchange-traded pools managed by it and others.

Mar 23, 2011

US public support for more nuclear power slips

WASHINGTON, March 22 (Reuters) – U.S. public support for
expanding nuclear power appears to be slipping after Japan’s
nuclear crisis while New York’s governor said on Tuesday an
aging plant near New York City will be the top priority in a
federal review of earthquake risk to such facilities.

President Barack Obama last year announced loan guarantees
to build the first U.S. nuclear power plant in nearly three
decades. But the nuclear disaster triggered by Japan’s 9.0
magnitude earthquake may be making Americans less inclined to
embrace more nuclear energy due to safety fears.

Mar 22, 2011

CFTC fines Bunge for distorting soy futures price

WASHINGTON, March 22 (Reuters) – The U.S. futures
regulator fined Bunge Global Markets (BG.N: Quote, Profile, Research, Stock Buzz) $550,000 for
entering soybean futures contract orders that were never
executed but which distorted market prices.

The U.S. Commodity Futures Trading Commission said on
Tuesday that Bunge entered orders to purchase or sell soybean
futures contracts in pre-opening trading sessions on Globex for
the May 2009 contract.

Mar 22, 2011

Most Americans want pause on new nuclear plants: poll

WASHINGTON (Reuters) – A majority of Americans want the United States to tap the brakes on new nuclear power reactors following the crisis in Japan that has focused more attention on the already controversial power source, according to a poll released on Tuesday.

The survey of 814 Americans found 53 percent would support a moratorium on new nuclear reactor construction if the country was able to meet its energy demand through increased efficiency and renewable sources such as wind and solar.

Mar 22, 2011

CFTC’s Gensler: financial system still uncertain

WASHINGTON (Reuters) – Preventing another financial crisis similar to the one that shook the markets in 2008 requires a global effort and cannot be done by one nation alone, the head of the U.S. Commodity Futures Trading Commission said on Tuesday.

Gary Gensler, the chairman of the CFTC, the regulator of futures markets, said even though it is more than two years since the crisis exposed flaws in global financial and regulatory systems around the world, “significant uncertainty” still remains.

Mar 22, 2011

Stopping next financial crisis a global effort: CFTC

WASHINGTON (Reuters) – Preventing another financial crisis similar to the one that shook the markets in 2008 requires a global effort and can not be done by one nation alone, the head of the U.S. Commodity Futures Trading Commission said on Tuesday.

Gary Gensler, the chairman of the CFTC, the regulator of futures markets, said even though it is more than two years since the crisis exposed flaws in global financial and regulatory systems around the world, “significant uncertainty” still remains.

Mar 17, 2011

Starving CFTC of funding puts billions at risk: Gensler

WASHINGTON (Reuters) – The chairman of the U.S. futures regulator told lawmakers he was sympathetic to their efforts to rein in spending, but warned it would be a mistake to withhold funding from the agency and could put billions of taxpayer dollars at risk.

The U.S. Commodity Futures Trading Commission is writing dozens of regulations to implement the Dodd-Frank law, which was enacted last July and gives the agency oversight of the $600 trillion global swaps market. Most rules have not been finalized.

    • 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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