WASHINGTON, D.C. - U.S. Senator Pat Roberts, R-Kan., Chairman of the Senate Committee on Agriculture, Nutrition and Forestry, is pleased to announce broad support of his Chairman’s Mark on reauthorizing the Commodity Futures Trading Commission (CFTC), which will be considered at the Committee’s business meeting on Thursday.
“This legislation has the widespread support of the folks who will benefit from real CFTC reforms the most – rural America. Additional stakeholder support is pouring in daily.” Roberts said. “This is the first time in a decade this Committee has held a markup for CFTC reauthorization, and I’m proud to say this Chairman’s Mark provides much needed customer protections in the wake of the disasters of M.F. Global and Peregrine Financial.”
The letter, signed by a variety of national and state agriculture and agribusiness groups in support of the Chairman’s Mark for CFTC reauthorization, urges the members of the Committee to pass this legislation that “contains a number of important provisions for agricultural and agribusiness hedgers who use futures and swaps to manage their business and production risks.”
The legislation has the support of:
Click here to read letters of support.
The Senate Agriculture Committee last May held a hearing on regulatory issues impacting end-users and market liquidity. The hearing featured testimony from CFTC Chairman Timothy Massad, as well as a variety of end-users from across the country.
To read the draft legislation and watch Thursday’s business meeting, click here.
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