Senators Prod CFTC To Tighten Energy Position Limits

Law360, New York (January 12, 2011, 2:01 PM EST) -- A group of U.S. senators Wednesday pushed the U.S. Commodity Futures Trading Commission to act faster to crack down on speculative trading in energy markets, ahead of its vote Thursday on a proposal placing new position limits on commodity markets.

Sens. Bill Nelson, D-Fla., Maria Cantwell, D-Wash., and Bernie Sanders, I-Vt., circulated a letter calling on CFTC Chairman Gary Gensler and fellow commissioners to resist calls from Wall Street to block federally mandated requirements to end excessive speculation by investors in commodity markets, and instead move...
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