Dec 06 2016
Washington—Senator Dianne Feinstein (D-Calif.) released the following statement in response to the Commodity Futures Trading Commission’s (CFTC) decision to repropose a long-delayed rule to limit excessive speculation in the markets for energy, agricultural and metal commodities.
The CFTC has proposed and reproposed this rule multiple times since it was first required by Dodd-Frank in 2010. The previous proposal was issued three years ago.
“It has now been more than six years since Dodd-Frank required the CFTC to develop commonsense rules that prevent excessive speculation in our energy and agricultural markets.
“By continuing to delay this rule, the CFTC is failing in its responsibilities. Unfortunately, it is American consumers and workers who will shoulder the burden if the costs for energy and agricultural goods are driven up illegitimately.
“I hope the CFTC is truly serious about finalizing this rule as soon as possible and will do so without compromising the intent of the law.”