CFTC to Face Senate Scrutiny Over Speculation Curbs

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According to various news sources, on October 6th, the CFTC will face Senate inquiry hearing about the trading curbs. The hearing will be led by Senator Carl Levin at the Permanent Subcommittee on Investigation.

The CFTC and SEC leading U.S. efforts to write new derivatives rules for the $601 trillion global swaps market after largely unregulated trades helped fuel the 2008 credit crisis. The rules will govern trades conducted by Goldman Sachs Group Inc., Citigroup and Cargill Inc., among other companies.

The CFTC has come under pressure from lawmakers to complete the speculation rule and it has the most contentious stemming from Dodd-Frank, spurring more than 13,000 comments from supporters such as Delta Air Lines Inc and opponents including Barclays Capital.

Anna Timone (195 Posts)


Comments

  1. Ahh, after a long time, nice to check you out Anna!

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