Ag Professional Weekly
Commodity Exchange Act Implementation

Source: House Agriculture Committee

Congressman Leonard Boswell (D-Iowa), Chairman of the House Agriculture Committee's Subcommittee on General Farm Commodities and Risk Management, held a hearing to review the implementation of changes to the Commodity Exchange Act contained in the 2008 farm bill. The Subcommittee heard testimony from the Commissioner of the U.S. Commodity Futures Trading Commission Gary Gensler.

"Our job in Congress and on this Subcommittee is to bring greater transparency and oversight to the future markets and ensure that we provide necessary oversight of these markets without hindering legitimate consumers from operating within them," Subcommittee Chairman Boswell said. "To the extent fraudulent activity is taking place and hard-working Americans are getting taken to the cleaners, we need to ensure that federal regulators have the tools necessary to protect consumers."

Original press release