The Futures Industry Association’s Law and Compliance division hosted the two new commissioners for the Commodity Futures Trading Commission (CFTC) this afternoon; and the commissioners discussed issues currently confronting the regulator, issue number one being the reauthorization of the regulator.
While operations have not been interrupted, the CFTC has been operating under a temporary budget. Reauthorization is being held up for a number of reasons, including a push to regulate exempt commercial markets (ECM) such as the Intercontinental Exchange Inc., which has been found to serve as a price discovery mechanism, specifically for Henry Hubb natural gas, and a desire to regulate the retail forex industry.
