Senate Ag Committee Hearing on Derivatives Set

Move toward passing legislation to have trading on regulated exchanges.

The Senate Agriculture Committee has set a hearing to further explore needed regulatory reform of derivative markets. The open session on Thursday, June 4 will address what can be done to regulate these markets in order to provide a solid foundation on which to rebuild the nation's economy and prevent another financial collapse in the future. The full witness list is being developed.

 

Leading economists have attributed the recent downturn of the U.S. economy in part to the failure of derivatives markets. This past January, Senate Ag Committee Chairman Tom Harkin, D-Iowa, introduced legislation to bring all over-the-counter futures trading onto regulated exchanges. Harkin said this action would bring transparency and accountability to these financial transactions and to strengthen our financial markets. This hearing will continue his effort to move this legislation forward.

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