CFTC

Senator Dick Durbin Introduces Bill to Reform Oil Market Regulation

By admin - Posted on June 13th, 2008

June 12, 2008 -- WASHINGTON, D.C. – United States Senator Dick Durbin (D-IL), Chairman of the Appropriations Subcommittee on Financial Services and General Government, introduced legislation today to increase the resources and authority of the Commodity Futures Trading Commission (CFTC).

The CFTC is the federal agency responsible for regulating oil and commodity futures markets. The legislation is cosponsored by Senators Harry Reid (D-NV), Carl Levin (D-MI), Byron Dorgan (D-ND), Diane Feinstein (D-CA) and Jeff Bingaman (D-NM). » read more »

Levin: Close the London Loophole Act Gives CFTC Clear Authority Over U.S. Commodities Traded on Foreign Exchanges

By admin - Posted on June 13th, 2008

Senators push to put a ‘cop on the beat’ to crack down on manipulation and excessive speculation

June 12, 2008 -- WASHINGTON – Senator Carl Levin (D-MI) today introduced, along with Senators Dianne Feinstein (D-CA), Dick Durbin (D-IL), Byron Dorgan (D-ND) and Jeff Bingaman (D-NM), the Close the London Loophole Act, [PDF] which would ensure that the Commodity Futures Trading Commission (CFTC) has the same authority to detect, prevent, and punish manipulation and excessive speculation for traders in the United States who trade crude U.S. oil or other energy commodities on foreign commodity exchanges as the CFTC has for traders who trade on U.S. exchanges. » read more »