The General Farm Commodities and Risk Management Sub Committee recently held their fourth hearing over the future of the Commodity Futures Trading Commission. The sub committee is trying to improve customer protections and prevent futures commission collapses. National Grain and Feed Association President Randy Gordon says he’s concerned one of the proposed rules would have a negative effect on elevators and others who trade hedges.
Gordon says while that rule is intended to give more protections it would have the opposite effect.
The sub committee is hoping to come up with rules that ensure mistakes are caught quickly and wrongdoing is made exceptionally difficult. This fourth hearing is expected to be the final one ahead of legislation to reauthorize the CFTC.