CFTC Reauthorization

Today, the House Ag Committee held a business meeting to markup H.R. 4895, to reauthorize the Commodity Futures Trading Commission (CFTC or Commission).  The Committee reported the bill favorably to the House by a voice vote after adopting a manager’s amendment that makes few changes to the underlying bill.  At this point, it appears that the bill may be considered on the House floor in the near future.  The Senate is in the process of drafting its own version of the legislation. 

Some noteworthy sections in the bill include:

  • Grants the Commission the authority to adopt rules, after notice and comment, to safeguard proprietary information it obtains or receives and subsequently may share. (Section 114)
  • For contracts listed on DCMs or SEFs that reference a digital commodity available on a cash market, the bill directs the Commission to adopt rules detailing the content and availability of trade and trader data and other information a DCM/SEF must be able to access from referenced cash markets and data sources. (Section 109)
  • Makes amendments to the administration of SEFs. (Section 111)
  • Directs the Commission to establish and maintain research, development, demonstration, and information programs that: (a) facilitate the Commission’s understanding of emerging technologies, (b) provide an environment where emerging technologies may be explored; and (c) identify areas where the Commission should adapt technological advancements. (Section 118)
  • Establishes an Office of the Chief Economist to serve as an economic advisor to the Commission and perform functions such as economic analysis, regulatory cost-benefit analysis, and research. (Section 106)
  • Exempts qualified charitable organizations from regulation as commodity pool operators. (Section 108)
  • Expands the Commission’s fraud and manipulation authority to activities outside the U.S. that have or would have a reasonably foreseeable substantial effect within the U.S. (Section 112)

More Advocacy Issues

Yesterday, Representative David Scott (D-GA), Chairman of the House Committee on Agriculture, Representative Sanford Bishop (D-GA), Chairman of the Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies, and Senator Raphael Warnock (D-GA), the sole cotton state Democrat on the Senate Committee on Agriculture, Nutrition, and Forestry wrote a letter to Secretary […]

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Yesterday, the House Transportation Subcommittee on Coast Guard and Maritime Transportation held a hearing entitled “Impacts of Shipping Container Shortages, Delays, and Increased Demand on the North American Supply Chain.”  The hearing featured two panels: the first panel included Federal Maritime Commission (FMC or Commission) Chairman Daniel Maffei and Commissioner Rebecca Dye, and the second […]

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On June 9, 2021, the U.S. Commodity Futures Trading Commission held a meeting of its Agricultural Advisory Committee, which ACSA President/CEO Buddy Allen and Vice-Chairman Tommy Hayden sit on.  The Committee received a report from the Subcommittee to Evaluate Commission Policy with Respect to Implementation of Amendments to Enumerated Agricultural Futures Contracts with Open Interest.  […]

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On April 16, 2021, the China Cotton Association (CCA) wrote the Committee for International Co-operation Between Cotton Associations (CICCA) a letter regarding cotton in the Xinjiang region of China. The China Cotton Association also released a statement regarding the recent boycott on Xinjiang cotton by apparel brands. See both the letter and statement below. Letter […]

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On April 14, 2021, Memphis stakeholders wrote a letter to Chairman Oberman of the Surface Transportation Board expressing the need for assistance in resolving the current inland rail crisis affecting importers, exporters and motor carriers in the area. See the full letter below. Click Here

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On March 15, 2021, Mississippi State University published the expected PLC payments for the 2020 year. Please see the link below for more information. Click Here

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