International commodities regulators will gather for conference at the CFTC

The Commodity Futures Trading Commission will hold its first-ever market surveillance conference for international commodities regulators Aug. 5-7 at its Washington, DC headquarters.

Aug 8th, 2008

Aug. 5-7: The Commodity Futures Trading Commission will hold its first-ever market surveillance conference for international commodities regulators at its Washington, DC headquarters. Attendance is limited to futures regulators and is not open to the public.

Why it matters: The conference will bring together regulators from nine countries, including China and India, to discuss markets and financial surveillance and other key futures oversight elements at a time when many federal lawmakers believe excessive financial speculation inflated crude oil prices since the beginning of 2008.

"This three-day program is designed to share best practices for market monitoring and strengthens partnerships with our overseas counterparts. Regulators around the world share the same goals to ensure market integrity and customer protections. Building on these shared goals, the CFTC will explain necessary tools and techniques to stop abuses and address them in real-time," CFTC International Affairs Director Jacqueline Mesa said.

It also could help reinforce the CFTC's efforts to answer critics of its strategy of cooperating with other countries' boards of trade in tracking down market manipulators before imposing more onerous reporting and disclosure requirements. Republicans kept both the US Senate and House from adopting commodities reform bills before the August recess began, but they appear likely to resurface when federal lawmakers return after Labor Day.

Contact Nick Snow at nicks@pennwell.com

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