Sweeping

A broad coalition of industry, trade and consumer advocacy groups has called on the Commodity Futures Trading Commission (CFTC) to narrowly interpret the sweeping Wall Street Reform Act when proposing and implementing rules.

A broad coalition of industry, trade and consumer advocacy groups has called on the Commodity Futures Trading Commission (CFTC) to narrowly interpret the sweeping Wall Street Reform Act when proposing and implementing rules.

The Commodity Futures Trading Commission (CFTC) Friday took a major step toward implementing the sweeping Wall Street reform bill by voting out an interim final rule and two proposed rules at its first public meeting on the new regulations, but the agency made clear that the measures were not carved in stone and urged the public to comment.

The Commodity Futures Trading Commission (CFTC) Friday took a major step toward implementing the sweeping Wall Street reform bill by voting out an interim final rule and two proposed rules at its first public meeting on the new regulations, but the agency made clear that the measures were not carved in stone and urged the public to comment.

The U.S. House of Representatives late Wednesday voted out the conference report calling for sweeping financial regulatory reforms, including regulation of the over-the-counter (OTC) derivatives market for the first time. But the fate of the reform package in the Senate remains uncertain (see Daily GPI, July 1).

The House was poised to vote out possibly as early as Wednesday evening legislation calling for sweeping financial regulatory reforms, including regulation and transparency of the over-the-counter (OTC) derivatives market for the first time. Passage of the bill in the Senate, however, wasn’t expected to be as easy.

House and Senate negotiators took the report on sweeping financial regulatory reform back into conference Tuesday to make adjustments to obtain the 60 votes needed to head off a filibuster in the Senate.

Interior Secretary Ken Salazar told two Senate panels last week that he was planning to issue a new order that may narrow the scope of the sweeping moratorium on deepwater drilling in the Gulf of Mexico (GOM), but he did not indicate precisely when.

A federal judge in New Orleans Thursday denied the Obama administration’s request for a stay of the decision to block enforcement of the Interior Department’s sweeping moratorium on deepwater drilling in the Gulf of Mexico (GOM).