Commodity Exchanges, Energy, and Credit

Remarks as prepared for delivery: Mr. Chairman, I know that you remember the hearing that we conducted in 2012 on this same topic. It was a good and informative hearing and I expect that today’s hearing will build on that work. I was looking though the transcript of that hearing in the preparation for today, and I’d like to share some words of wisdom submitted by Chairman Steven Maijoor, who was then and still remains, the Chairman of European Securities and Markets Authority, or ESMA. In his te... Read more

Remarks as prepared for delivery: Mr. Chairman, thank you for convening this hearing. You and I share a deep concern over the potential absence of international harmonization work between the CFTC and their global counterparts. The main focus of today’s hearing is on the impact of Brexit in US derivatives markets. But, we cannot talk about that without discussing the European Commission’s potential divergence from our hard-fought 2016 Equivalence Agreement. For years, this committee has been foc... Read more

Washington, D.C. – Today, the House Agriculture Subcommittee on Commodity Exchanges, Energy and Credit held a hearing on how Brexit and other international developments affect U.S. derivatives markets. After the hearing, Subcommittee Ranking Member Austin Scott (GA-8) and Committee Ranking Member K. Michael Conaway (TX-11) made the following remarks: “Today’s hearing underscored the importance of maintaining the 2016 Equivalence Agreement and strong international regulatory coordination. I appla... Read more

Remarks as prepared for delivery: Thank you, Mr. Chairman. I appreciate your indulgence to say a few words about the distinguished chairman of the CFTC. Chris, thank you. Thank you for your service; Thank you for your diligence, thoughtfulness and candor; Thank you for your relentless curiosity; And, most of all, thank you for your bottomless reservoir of optimism. Everyone up on this dais knows how hard it can be to hold a position of public trust, but you have never once shown that burden. Rat... Read more

Remarks as prepared for delivery: First off, I would like to congratulate my friend and fellow Georgian, David Scott, on chairing this subcommittee and I look forward to the bipartisan work we will do this Congress. Next, I would like to welcome the new members to this subcommittee and of course Chairman Giancarlo. Good morning, Chairman Giancarlo. It’s good to have you back here one last time before you and your family head back to New Jersey. Thank you for your service at the Commission. I hav... Read more

Washington, D.C. – Today, the House Agriculture Subcommittee on Commodity Exchanges, Energy and Credit held a hearing on the state of the Commodity Futures Trading Commission (CFTC). After the hearing, Subcommittee Ranking Member Austin Scott (GA-8) and committee Ranking Member K. Michael Conaway (TX-11) made the following remarks: “I want to thank Chairman Giancarlo for his testimony today and his strong support for the CFTC Research and Development Modernization Act. His vision of the CFTC as ... Read more

Washington, D.C. – House Agriculture Committee Chairman Collin Peterson of Minnesota and Ranking Member Mike Conaway of Texas announced the rosters for the six subcommittees of the House Agriculture Committee today in Washington. Commodity Exchanges, Energy, and Credit Democratic members include: Chairman David Scott, Georgia Jeff Van Drew, New Jersey Filemon Vela, Texas Stacey Plaskett, U.S. Virgin Islands Abigail Spanberger, Virginia Antonio Delgado, New York Angie Craig, Minnesota Sean Patric... Read more

Washington, D.C. – Today, House Agriculture Committee Ranking Member K. Michael Conaway (TX-11) announced the subcommittee Ranking Members for the 116th Congress. “With farm bill implementation underway, our subcommittees will play an instrumental role in promoting and protecting policies that are important to rural America and our country’s farm and ranch families. I look forward to working with our strong team of Ranking Members who have a wide-range of knowledge and expertise in the ag indust... Read more

Washington, D.C. – Today, the House Agriculture Committee held a hearing to review the upcoming agenda for the Commodity Futures Trading Commission. After the hearing, Chairman K. Michael Conaway (TX-11) made the following remarks: “It was clear in today’s hearing that just because the Dodd-Frank rules are written doesn’t mean regulators are done with their work. Chairman Giancarlo did a thorough job explaining how he’s trying to tackle an important review of the existing rules, and improve inte... Read more

Remarks as prepared for delivery: Good morning. I want to welcome you all to today’s hearing examining the upcoming agenda at the Commodity Futures Trading Commission. I’d like to start by welcoming back Chairman Giancarlo. Chris, it’s great to have you back here. The committee last met with you in October and at that time, you were working on a number of important initiatives at the commission, notably, LabCFTC and Project KISS. You also outlined a plan to begin refining the Title VII swaps rul... Read more