CMC Continues Works Inside The Beltway On MF Global Bankruptcy

Over three months after the MF Global bankruptcy, CMC continues to work to set the table for a robust and thoughtful discussion on policy recommendations.

  • We mobilized our members and formed a Task Force which will hold its first meeting in the coming days.  If you are interested in participating, please contact Meghan Tran (Meghan.Tran@CommodityMkts.Org or 202.842.0400 ext. 104)
  • When the House Ag Committee convened the first hearing on the bankruptcy, CMC had a seat at the table.  In a day-long hearing, R.J. O’Brien CEO Gerry Corcoran delivered the Council’s testimony and answered questions.  To read our testimony, click here.
  • Recognizing the need for greater education and a forum for discussion within the agricultural community, CMC is hosting a series of briefings on the bankruptcy.
  1. Our first briefing was held January 18 and drew a standing room only crowd.  Representatives from over 40 ag trade associations and numerous Hill staff gathered to listen to Ann Shuman, Managing Director & Deputy General Counsel with CME Group, explained CME’s role in the bankruptcy process and answers questions.
  2. Our next briefing is slated for February 13 and will feature representatives from the CFTC discussing a number of topics but including the regulatory framework governing FCMs and the penalties associated with breaching customer segregated funds
  • CMC continues to reach out to our press contacts, keeping them informed about these efforts and offering background and interviews as requested.  Just before State of the Industry, CMC was quoted in this article by Greg Meyer of The Financial Times.
  • Using our extensive inside the Beltway network, we are working with other agricultural, energy and financial groups not only to educate and to offer a forum for discussion, but to be prepared to work with us when the time is right to put forth policy and regulatory recommendations.  Combining the expertise of our membership with a variety of like-minded-groups in DC will multiply the message to help law makers and regulators make better and more informed decisions.

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