Source: House Agriculture Committee

The House Agriculture Subcommittee on General Farm Commodities and Risk Management last week held a hearing to review implementation of the position limits provision within the Wall Street Reform and Consumer Protection Act.

The law sets a Jan. 17, 2011, deadline for the Commodities Futures Trading Commission (CFTC) to announce the proposed rule for position limits and many have recently expressed concerns about the Commission meeting this deadline.

"Today's hearing was important to make sure that key position limits outlined in the Dodd-Frank Wall Street Reform and Consumer Protection Act are implemented during the rulemaking process," said Chairman Leonard Boswell (D-Iowa). "Position limits are essential to the function of effective and efficient markets, and necessary to protect market end users who rely on the marketplace to hedge their risks in operating their businesses."
Original press release