CFTC's Sommers Stands Up Against FERC

Law360, New York (November 14, 2007, 12:00 AM EST) -- A commissioner at the Commodity Futures Trading Commission reiterated on Tuesday that the CFTC, and not the Federal Energy Regulatory Commission, possesses sole authority to regulate accused futures energy market manipulators like Amaranth Advisors LLC.

Commissioner Jill Sommers also voiced support for CFTC's proposed increased regulation over exempt commercial markets in prepared remarks before the Futures Industry Association and the New York City Bar Association.

She lauded the commission's work as its authorizing statute comes up for renewal in Congress.

“The CFTC does an outstanding job...
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