The Hagstrom Report

Agriculture News As It Happens


Stabenow announces Dodd-Frank hearings

Senate Agriculture Committee Chairman Debbie Stabenow, D-Mich., announced today that her committee will hold hearings on the implementation of the Dodd-Frank financial reform act on July 17 and August 1.

Stabenow announced the hearing the same day that the Commodity Futures Trading Commission announced it filed a complaint in the U.S. District Court for the Northern District of Illinois against Peregrine Financial Group Inc., a registered futures commission merchant, and its owner, Russell R. Wasendorf Sr., saying that they committed fraud by misappropriating customer funds, violated customer fund segregation laws, and made false statements in financial statements filed with the commission.

Stabenow announced that the following witnesses will testify:
  • Gary Gensler, chairman, Commodity Futures Trading Commission
  • Robert Cook, director, Division of Trading and Market, Securities and Exchange Commission
  • Robert Pickel, CEO, International Swaps and Derivatives Association
  • Dennis Kelleher, President and CEO, Better Markets
  • Thomas Erickson, vice president, government affairs, Bunge North America

The second hearing will focus on potential consumer protections.