Bill To Empower CFTC Inspector General Clears House

Law360, New York (September 25, 2008, 12:00 AM EDT) -- A proposed bill that would give the U.S. Commodity Futures Trading Commission's inspector general greater independence and authority to oversee the agency's activities has cleared the U.S. House of Representatives.

Members of the House passed the legislation, designed to correct the CFTC's perceived failure to monitor and investigate abuse in the energy futures market, by a voice vote on Wednesday, passing it on to the U.S. Senate for approval.

“The CFTC has abdicated its responsibilities in monitoring and regulating the energy futures market,” said Rep. John...
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