Municipals, Gas Producers and Corn Growers Weigh in on 'Dodd-Frank' and CFTC Rules

摘要

The American Public Gas Association (APGA) this week sent to Congress a letter urging funding of the Commodity Futures Trading Commission (CFTC). APGA communicated in letters to Congress as well as in testimony its support for an adequate level of funding to help ensure that the CFTC has the resources it needs for effective market oversight. "Resources will also have an impact as the CFTC moves to implement a myriad of rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act," the group believes. To Majority Leader Harry Reid (D-Nev.), APGA expressed the concern that if funding for the CFTC is inadequate, so may be the level of protection. APGA "believes that markets function more effectively when participants have assurances that there is a cop on the beat watching the market and that the cop has the tools and resources to catch and punish any violations. It is critical that the CFTC has the resources to monitor the market and catch potential violations as soon as possible so as to limit the impact upon consumers."