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Wednesday, June 25, 2014

House Passes CFTC Reauthorization Bill

The House has passed a bill that would reauthorize the CFTC through 2018, as well as make other revisions such as exempting SEC-regulated investment companies from duplicative CFTC registration requirements, cut back on rules for international derivatives transactions and organize new futures customer protections.

The bill, H.R. 4413, passed by a vote of 265-144. The bill's sponsor, House Agriculture Committee Chairman Frank D. Lucas (R-OKla.) said:

Due to the consideration of the Dodd-Frank Act, Congress clearly intended to exempt end users from some of the most costly new regulations. However, the CFTC has narrowly interpreted the law, resulting in burdensome and often arbitrary compliance requirements which have negatively impacted end users by making it more difficult and costly to manage the risks associated with their businesses.

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