The CFTC is the agency responsible for regulating commodity
markets. Small businesses, global firms, and farmers and ranchers use these
markets for trade in traditional and non-traditional agricultural commodities.
The Senate Ag Committee is holding hearings on the CFTC in order to revisit the
laws controlling the CFTC and consider updates in hopes of ensuring that “markets
are operating as intended and that market users... are protected from fraud,
manipulation, and abusive practices.”
The House Agriculture Committee held their first hearing
on the reauthorization of the CFTC on May 21, 2013.
Reauthorization is the process used to update the CFTC’s authorities
and recommended spending levels. The CFTC’s statutory authorization expires at
the end of the fiscal year. The last reauthorization took place in 2008.
For further information and the input offered by
stakeholders on how to improve current laws, please visit the Senate Ag
Committee’s websites on the
hearing and the CFTC
Reauthorization.
Written by Sarah Doyle - Research Assistant
The Agricultural Law Resource and Reference Center
@PSUAgLawCenter
July, 22, 2013
