Law360, New York (July 08, 2009, 12:00 AM ET) -- The U.S. Commodity Futures Trading Commission would be given full authority over markets that trade carbon allowances under a U.S. Senate bill that addresses regulation of a new cap-and-trade system.
Sens. Dianne Feinstein, D-Calif., and Olympia Snowe, R-Maine, said Tuesday their legislation is aimed at preventing Enron-like fraud in the new federal, state and regional carbon markets that will be established under the cap-and-trade system to reduce greenhouse gas emissions.
Carbon allowances are permits to emit one metric ton of carbon dioxide into the atmosphere. Polluters...
Bill Aims To Hand Carbon Market Oversight To CFTC
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