WASHINGTON — A Senate subcommittee will hold a hearing next week on speculation in the commodities markets — an issue addressed by provisions of the Dodd-Frank Act, which regulators are now implementing.
Scheduled to testify is Gary Gensler, chairman of the Commodity Futures Trading Commission. Other witnesses have yet to be announced.
The hearing is being held by the Senate Permanent Subcommittee on Investigations, chaired by Sen. Carl Levin, D-Mich. The subcommittee wrote a 2006 report on the role of speculation in the rising price of oil and gas, and a 2009 report on speculation in the wheat market.
The Oct. 6 hearing will address speculation in commodities markets and the implementation of the parts of Dodd-Frank that call on regulators to impose speculative position limits for futures, options, and swap contracts for commodities such as oil.
