On Tuesday, the leaders of the Senate Agriculture Committee announced that three of President Trump’s nominees have received Senate approval to begin work at the USDA and the CFTC.
Members of the Senate Agriculture Committee are scheduled to vote Tuesday on two Trump administration nominees, Dan Berkovitz to be a CFTC commissioner and James Hubbard to be agriculture undersecretary for natural resources.
President Trump selected Dan Berkovitz, who was general counsel at the Commodity Futures Trading Commission during the Obama era, as his nominee for commissioner of the agency, said the White House.
The Republican-controlled Senate put President Trump's stamp on the Commodity Futures Trading Commission, which oversees the futures markets, by approving his choice for CFTC chairman and two of his nominees for the five-member board. The nominations were approved by unanimous consent and give the CFTC board a majority for the first time in months.
Billionaire Carl Icahn has been an informal White House adviser on regulatory issues since the early days of the Trump administration. Five Democratic senators asked EPA chief Scott Pruitt for all documents involving any communications involving Icahn and his businesses and the EPA, which regulates air pollution laws and biofuel usage.
President Trump has nominated Brian D. Quintenz of Ohio to be a commissioner of the U.S. Commodity Futures Trading Commission, according to the White House website
President Trump will ask the Senate to confirm J. Christopher Giancarlo as chairman of the Commodity Futures Trading Commission, the White House announced. Giancarlo was named acting chairman on the day Trump took office and is expected to rein in Dodd-Frank financial reforms. Giancarlo, a commissioner since June 2014, would succeed Timothy Massad, a Democrat, who resigned with the change in administration. Sharon Brown is the only other commissioner at present.
The Republican-controlled House passed a bill that would freeze the budget of the Commodity Futures Trading Commission for the next five years and require more analysis before it adopts new regulations. The bill, sponsored by House Agriculture chairman Michael Conaway but not considered by his committee, was sent to the Senate on a party line vote, 239-182.
Former New Jersey Gov. Jon Corzine will pay a $5 million civil penalty for misuse of $1 billion in customers' funds during the 2011 collapse of MF Global, which shook the futures market. Corzine, who was chief executive of the trading house, also agreed in a consent order in federal court to never again work for a futures brokerage or to register with the CFTC.
The federal overseer of the futures markets, the Commodity Futures Trading Commission, re-proposed limits on speculative futures and swaps by investors in 25 physical commodities ranging from corn and soybeans to natural gas, crude oil and precious metals. The CFTC also re-proposed a definition of bonafide hedging — important to food processors, utilities and airlines, who use futures to assure the price and supply of materials.
The Senate Agriculture Committee approved the nominations of Christopher Brummer and Brian Quintenz as commissioners of the Commodity Futures Trading Commission (CFTC), the regulator of the commodities markets. The Senate is to meet today before taking a break ahead of the Nov. 8 general …
Senate Agriculture Committee chairman Pat Roberts said his bill to reauthorize the Commodities Futures Trading Commission, scheduled for a vote in committee on Thursday, would remove unnecessary federal regulation of so-called end users, such as utilities, airlines and food processors, while improving safeguards against misuse of customer funds.
Commissioner Mark Wetjen announced his resignation from the Commodity Futures Trading Commission effective Aug. 28, nearly four years after he was confirmed by the Senate to serve on the regulatory agency.
On a party-line rollcall of 246-171, the House voted to send the Senate a bill to reauthorize the Commodity Futures Trading Commission. It would create new safeguards for customers' money and ease regulation of so-called end users.The customer safeguards are a reaction to the collapse of two large trading houses and are intended to preserve customers' accounts during financial upheavals.
The House could vote this evening on the Republican-backed bill to reauthorize the Commodity Futures Trading Commission, overseer of the derivatives markets. The White House threatened a veto of the bill last week. Besides renewing the operating authority of CFTC, the bill creates new safeguards for customers' funds held by trading houses, relaxes regulations on so-called end users, and makes it more difficult for the five-member commission to write new regulations.
Farmers, elevators and businesses would have until the end of the day following a futures trade to cover their margin accounts under a bill filed by Senate Agriculture chairman Pat Roberts of Kansas and Sen. Heidi Heitkamp of North Dakota.
On a party-line vote, the House agreed to debate a bill drafted by the House Agriculture Committee to reauthorize the Commodity Futures Trading Commission, which oversees the derivatives market, including futures contracts. The Republican-controlled House acted one day after the White House threatened to veto the bill "because it undermines the efficient functioning" of the CFTC. The House bill creates barriers within the agency to writing new regulations, said the administration.
U.S. District Judge Linda Reade ordered U.S. Bank to pay $18 million to the trustee for Peregrine Financial Group as reimbursement to customers of the bankrupt company, says the CFTC.