Agricultural/Financial correspondent
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Sep 23, 2010

Gensler not asked to replace Summers: CFTC

WASHINGTON (Reuters) – The Commodity Futures Trading Commission on Thursday squashed speculation that Chairman Gary Gensler is a candidate to replace Larry Summers, the outgoing director of the White House’s National Economic Council.

“He has not been asked,” said Scott Schneider, a CFTC spokesman.

Gensler, has been mentioned as a potential replacement for Summers, who announced this week that he would leave the job at the end of the year.

Sep 21, 2010

CFTC roll-out of swaps reform begins to take shape

WASHINGTON, Sept 21 (Reuters) – The head of the U.S.
futures regulator said on Tuesday that mandatory real-time
reporting of swaps trades, a key measure to promote market
transparency, could begin as early as September 2011.

Gary Gensler, Chairman of the U.S. Commodity Futures
Trading Commission, has been reluctant until recently to
provide details or a timetable for new rules to oversee the
swaps markets until recently, but his latest remarks offered
some early insight on the agency’s direction.

Sep 21, 2010

Real-time swaps reporting may start in Sept ’11-CFTC

WASHINGTON, Sept 21 (Reuters) – The head of the U.S. futures regulator
said Tuesday that mandatory real-time reporting of swaps trades, a key
measure to promote market transparency, could begin as early as September
2011.

Gary Gensler, Chairman of the U.S. Commodity Futures Trading
Commission, has been reluctant to provide details or a timetable for new
rules to oversee the swaps markets until recently, but his latest remarks
offered some early insight on the agency’s direction.

Sep 16, 2010

CFTC rule to gather data laborious, costly-industry

WASHINGTON, Sept 16 (Reuters) – Exchanges and commodity
brokers embrace the need to modernize the collection of trading
data, but were in lock-step that a proposal by the U.S. futures
regulator might go too far and make the process less
efficient.

Industry officials said the Commodity Futures Trading
Commission proposal to collect more data about the ownership of
futures trading accounts risks being too onerous, expensive,
and may require information hard to acquire or that is not
universal among all firms.

Sep 16, 2010

CFTC outlines number of new swaps dealers, venues

WASHINGTON/NEW YORK (Reuters) – More than 200 entities could look to become swap dealers, including global and regional banks that offer swaps in the United States, the head of the U.S. Commodity Futures Trading Commission said as the agency ramps up oversight of derivatives trading.

CFTC Chairman Gary Gensler on Thursday broadly outlined for the first time how many groups could be impacted by the new rules for the giant over-the-counter market, enacted as part of the recently passed Dodd-Frank financial reform bill.

Sep 13, 2010

Industry has sway over food safety system: study

WASHINGTON (Reuters) – The food industry is jeopardizing U.S. public health by withholding information from food safety investigators or pressuring regulators to withdraw or alter policy designed to protect consumers, said a survey of government scientists and inspectors.

A study released on Monday by the Union of Concerned Scientists found one-in-four of those surveyed have seen corporate interests forcing their agency to withdraw or modify a policy or action designed to protect consumers during the past year.

Sep 8, 2010

Russia OKs more US plants for poultry exports-USDA

WASHINGTON, Sept 8 (Reuters) – The U.S. Agriculture
Department said on Wednesday all but one of the 26 poultry and
slaughter plants it determined were eligible to ship poultry to
Moscow have been cleared by Russian officials.

“We continue to work with the Russians, continue to
negotiate and discuss with them the next steps,” Agriculture
Secretary Tom Vilsack told reporters earlier at a USDA event.

Sep 2, 2010

Food safety a “priority” for Senate: Reid aide

WASHINGTON (Reuters) – Passing food safety reform legislation this year is a “priority” for the Senate, said a spokesman for Senate Democratic Leader Harry Reid, as Congress feels pressure from consumer groups to act following the latest recall to highlight weaknesses in the system.

“It has been and will continue to be a priority,” said Jim Manley, a spokesman for Reid. “I hope to have the bill on the floor this work period,” he said.

Sep 1, 2010

US sees 2-yr environmetal review of GM sugar beets

WASHINGTON, Sept 1 (Reuters) – The U.S. Agriculture
Department, fresh off a court ruling that banned the planting
of genetically-modified sugar beets, said on Wednesday it could
take at least two years to complete an environmental review
before it would be able to lift planting restrictions.

A federal judge last month banned the planting of
genetically modified sugar beets engineered by Monsanto (MON.N: Quote, Profile, Research, Stock Buzz)
Co. U.S. District Judge Jeffrey White ruled in 2009 that USDA
approved Monsanto’s sugar beets without adequate environmental
study.

Aug 5, 2010

CFTC’s Gensler urges KCBT to fix wheat contract

WASHINGTON, Aug 5 (Reuters) – The head of the U.S. futures regulator
urged the Kansas City Board of Trade on Thursday to make changes to its
hard red winter wheat contract, where cash and futures prices are failing
to converge.

Problems in both KCBT wheat and CME Group’s (CME.O: Quote, Profile, Research, Stock Buzz) Chicago Board of
Trade soft red winter wheat contract are having “significant implications
for hedgers,” said CFTC Chairman Gary Gensler.

    • 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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