NGFA Commends House Ag Committee Leadership on CFTC Reauthorization Bill
Date Posted: April 9, 2014
The National Grain and Feed Association (NGFA) April 9 commended House Agriculture Committee leadership for its work on H.R. 4413, a bill that would reauthorize Commodity Futures Trading Commission operations.
The NGFA said the bill contains numerous key clarifications for U.S. farmers, ranchers and agribusiness hedgers who use futures markets to manage risk in their businesses.
In addition, the bill would enhance protection for futures customers.
In particular, the NGFA commended a provision in the bill that would provide certainty on timing of futures commission merchants' residual interest calculation and preclude producers and hedgers from having to pre-fund margin accounts.
The NGFA also applauded clarification of recording and recordkeeping requirements that have proved unfeasible for some grain hedgers.
The NGFA said it looks forward to working with both the House and Senate Agriculture Committees as reauthorization of the Commission proceeds.
For more information, call 202-289-0873, ext. 111.