During today’s business meeting the Committee considered and adopted several amendments to the underlying bill. The Committee approved:
- A manager’s amendment by Chairman Peterson, by voice vote, containing technical and clarifying corrections, and changes regarding position limits and CFTC authority to suspend credit default swaps trading.
- An amendment by Representative Larry Kissell (D-NC) regarding the composition of governing boards of publicly traded exchanges.
- An amendment by Representative Earl Pomeroy (D-ND) requiring that CFTC hold hearings twice each year regarding appropriate levels of speculative position limits.
- An amendment by Representative Leonard Boswell (D-IA) regarding alternatives to clearing through derivatives clearing organizations.
Congressional oversight of commodity futures trading is under the jurisdiction of the House Agriculture Committee. Click here to view previous Committee action on derivatives legislation from the current Congress, as well as previous sessions of Congress.
Source: House of Representatives Agriculture Committee