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Nov 17, 2010

Food safety bill clears key vote in U.S. Senate

WASHINGTON, Nov 17 (Reuters) – The U.S. food supply,
battered by a series of recalls after millions were sickened,
moved a step closer toward its first major safety overhaul in
seven decades following a key vote in Congress on Wednesday.

The Senate voted 74-25 to limit debate on the food safety
bill, which clears the legislation for a final vote where it is
expected to pass. There is no timetable for when that will be.

Nov 17, 2010

Food safety bill clears key hurdle in Senate

WASHINGTON (Reuters) – The U.S. food supply, battered by a series of recalls after millions were sickened, moved a step closer toward its first major safety overhaul in more than 70 years following a key vote in Congress on Wednesday.

The Senate voted 74-25 to limit debate on the food safety bill, which clears the legislation for a final vote where it is expected to pass. There is no timetable for when that could occur.

Nov 10, 2010

Exclusive: CFTC’s position limit deadline seen out of reach

WASHINGTON (Reuters) – With two months to go, it now appears practically impossible for the U.S. futures regulator to meet its January deadline for setting new speculative limits in energy and metals markets, one of the most contentious elements of its overhaul.

Commissioners have consistently pledged to meet the goal, but the logistics of the rule-making process — including publication of a draft, a 30-day commentary period, a review of those comments and a final public hearing — will likely put that goal beyond reach, five industry sources said.

Nov 10, 2010

CFTC unveils new swap dealer “back office” rules

WASHINGTON (Reuters) – The U.S. futures regulator released proposals to govern the “back office” functions of swap dealers and other big players on Wednesday, but said more controversial elements for swaps participants remained to be determined.

The rules, including new firewalls between analysts and traders, are part of a series of 50 to 60 regulations to implement the Commodity Futures Trading Commission’s share of the Dodd-Frank Wall Street reform law.

Nov 5, 2010

Morgan Stanley urges CFTC to move slow on Dodd: Frank

WASHINGTON (Reuters) – U.S. regulators may severely disrupt the futures market if they are too aggressive in implementing the clearing, execution and other requirements of the Dodd-Frank reform law, Morgan Stanley said on Friday.

The investment bank said in a letter to the U.S. Commodity Futures Trading Commission that if the new rules were put in place for all market participants and all asset classes at the same time it would exclude some traders and reduce liquidity, and may result in “severe market disruptions.”

Nov 5, 2010

U.S. eyes new rules for market after “flash crash”

WASHINGTON (Reuters) – U.S. securities regulators are close to approving a plan to ensure markets remain liquid even in times of crisis, the chairman of the Securities and Exchange Commission said on Friday.

At a meeting to discuss the May “flash crash” that sent the Dow Jones industrial average into a brief 700-point freefall, SEC chief Mary Schapiro and other regulators were zeroing in on new rules to prevent another uncontrollable market plunge.

Nov 5, 2010

CFTC, SEC, await advice from “flash crash” panel

WASHINGTON, Nov 5 (Reuters) – U.S. regulators may get the
ammunition they need to impose new market rules when they meet
an advisory panel on Friday to discuss the May 6 plunge that
briefly sent the equities market and related futures into a
tailspin.

The ‘flash crash’ advisory group, composed of former
regulators, financial players and a top economist, will review
a government report that partially blames the dramatic market
fall on a single trade by a mutual fund.

Oct 25, 2010

CFTC takes aim at “runaway robotic trades”: Chilton

WASHINGTON (Reuters) – Computer-generated algorithmic trades have run amok in markets more than once this year, and U.S. regulators should look for ways to hold traders accountable, a top official on the Commodity Futures Trading Commission said on Monday.

Bart Chilton, a commissioner with the futures regulator, said “mini-flash crashes occur all too often” following a surge in high-frequency trading.

Oct 22, 2010

CFTC aims for middle ground in segregating funds

WASHINGTON, Oct 22 (Reuters) – The U.S. futures regulator
is aiming to find middle ground between money managers who want
their swaps’ collateral protected in times of financial crisis,
and the clearinghouses and their members who worry new rules
will ratchet up costs.

The new Wall Street reform law requires most swaps to pass
through clearinghouses but mandates some separation for margin
posted by individual companies.

Oct 21, 2010

La Nina to build, dictate US winter weather-NOAA

WASHINGTON, Oct 21 (Reuters) – A strengthening La Nina
weather phenomenon will grip the United States this winter,
bringing warmer, drier weather across the South and cooler,
moist conditions in the far northern and western parts of the
country, government forecasters said on Thursday.

The National Oceanic and Atmospheric Administration
forecast a “moderate to strong” La Nina that looks to become
one of the strongest on record throughout the winter — making
it the most dominant factor influencing weather across the
country.

    • 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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