Home \ Blog \ July 17, 2013 - Senate Full Agriculture Committee hearing entitled "Reauthorization of the Commodity Futures Trading Commission."

July 17, 2013 - Senate Full Agriculture Committee hearing entitled "Reauthorization of the Commodity Futures Trading Commission."

Chairwoman Stabinow introduced this hearing a part of a series of Agriculture Committee hearings on the subject of the reauthorization of the CFTC. This hearing featured market participants and was intended to continue the Committee's goal of pursuing the reauthorization in a cooperative and bipartisan manner.

The majority of the ten witnesses represented specific interest group and these individuals generally used their time to comment of Dodd/Frank regulations that have been adopted or are proposed.

Dennis Kelleher, Better Market's CEO, testified and stressed four important points. Don't forget the financial crisis that the CFTC must work to avoid or lessen in the future; don't re-litigate the Dodd/Frank Act as part of the CFTC reauthorization; the agency is seriously underfunded for their task and don't increase or complicate the reliance of industry generated statisticsas part of any new requirements for cost/benefit studies as part of the regulatory process.

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