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Oct 6, 2011

CFTC flexs muscles, enforcement cases hit a record

WASHINGTON, Oct 6 (Reuters) – Enforcement cases filed by
the U.S. Commodity Futures Trading Commission surged 74 percent
in fiscal year 2011 to its highest level in history as the
futures regulator followed through on a promise by its new
enforcement chief to crack down on fraud and manipulation.

The futures regulator on Thursday said it filed 99
enforcement actions during the fiscal year that ended on Sept.
30, up from 57 a year ago.

Sep 28, 2011

Exclusive: CFTC lacks votes on position-limit plan: sources

WASHINGTON (Reuters) – The U.S. futures regulator delayed a final vote on controversial measures to crack down on excessive speculation in commodity markets because it lacks the three votes needed for approval, sources familiar with the situation told Reuters on Wednesday.

The U.S. Commodity Futures Trading Commission announced on Tuesday it was delaying by another two weeks to October 18 its meeting to consider the long-awaited rule on position limits. It was the second time a vote had been postponed.

Sep 28, 2011

CFTC lacks votes on position-limit plan – sources

WASHINGTON, Sept 28 (Reuters) – The U.S. futures regulator
delayed a final vote on controversial measures to crack down on
excessive speculation in commodity markets because it lacks the
three votes needed for approval, sources familiar with the
situation told Reuters on Wednesday.

The U.S. Commodity Futures Trading Commission announced on
Tuesday it was delaying by another two weeks to Oct. 18 its
meeting to consider the long-awaited rule on position limits.
It was the second time a vote had been postponed.

Sep 26, 2011

Insight: Last year’s golden boy, CFTC boss Gensler under seige

WASHINGTON (Reuters) – Nearly a year after launching ambitious reform plans, the top cop for U.S. futures markets, Gary Gensler, is beset by dissent from inside his agency and political attacks from outside it.

In the last two months, signs of friction within the U.S. Commodity Futures Trading Commission have spilled into public view: internal complaints by whistleblowers, and the surprise release last Thursday of a key position-limit rule by Reuters. The leak of confidential trading data has also caused waves.

Sep 15, 2011

Senate panel keeps budget boosts for SEC, CFTC

WASHINGTON (Reuters) – U.S. securities and futures regulators will see large budget increases to help them implement sweeping new financial regulations under a bill approved by the Senate Appropriations Committee on Thursday.

The plan, which will now go to the full Senate for a vote, would give the Securities and Exchange Commission a fiscal 2012 budget of $1.407 billion, an increase of roughly 19 percent from its current fiscal 2011 budget of $1.185 billion.

Sep 15, 2011

CFTC may delay large trade compliance date

WASHINGTON (Reuters) – The U.S. futures regulator is considering delaying a new requirement that clearinghouses and their members report large swap positions in nearly 50 commodities so the industry can collect the required data.

On July 7, the U.S. Commodity Futures Trading Commission finalized enhanced reporting requirements for major traders in physical swaps. The CFTC rule requires clearinghouses, their members and swap dealers to make daily reports of large swaps positions in 46 commodities.

Sep 15, 2011

CFTC cancels Sept 22 meeting to consider final rules

WASHINGTON, Sept 15 (Reuters) – The U.S. futures
regulator, already behind schedule on completing new financial
reform measures, said it canceled next Thursday’s meeting in
order to finish work on a clearinghouse rule and a plan that
would limit speculative positions held by commodity traders.

The U.S. Commodity Futures Trading Commission has provided
the agency’s five commissioners with early drafts of the rules
but has yet to complete a review calculating the total expected
costs versus the expected benefits.

Sep 14, 2011

DOE supports solar despite Solyndra bankruptcy

WASHINGTON (Reuters) – The Obama Administration has no intention of “walking away” from investing in renewable energy projects despite the bankruptcy of a high-profile solar panel maker backed by federal loan guarantees, a top U.S. Energy Department official said on Wednesday.

The bankruptcy and ensuing criminal investigation into California-based Solyndra LLC has sparked outrage over the Obama administration’s efforts to build a clean energy program with loan guarantees and subsidies.

Sep 14, 2011

US supports solar despite Solyndra bankruptcy -DOE

WASHINGTON, Sept 14 (Reuters) – The Obama Administration
has no intention of “walking away” from investing in renewable
energy projects despite the bankruptcy of a high-profile solar
panel maker backed by federal loan guarantees, a top U.S.
Energy Department official said on Wednesday.

The bankruptcy and ensuing criminal investigation into
California-based Solyndra LLC has sparked outrage over the
Obama administration’s efforts to build a clean energy program
with loan guarantees and subsidies.

Sep 12, 2011

Global bank group slams new commodity oversight

WASHINGTON, Sept 12 (Reuters) – A global financial industry
group on Monday blasted attempts by European and U.S.
regulatory authorities to rein in speculation in commodity
markets, saying tighter rules would hurt market liquidity.

The Institute of International Finance, as part of a
concerted lobbying effort by the industry against more
regulation, said there was no evidence speculators were roiling
commodity markets and sparking price runs.

    • 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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