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House Ag to hold hearing on swaps and futures issues

The House Agriculture Committee will hold a hearing Wednesday on “Oversight of the Swaps and Futures Markets: Recent Events and Impending Regulatory Reform,” Chairman Frank Lucas, R-Okla., announced today.

The hearing will cover the failure of the Peregrine Financial Group and implementation of the Dodd-Frank financial services bill, Lucas said.

“With all that is happening in the swaps and futures markets, be it the recent and troubling failure of PFGBest, the continuing fallout from MF Global, or the numerous Dodd-Frank rules that will soon go into effect, it’s important that the committee hold an in-depth examination of all of these issues,” Lucas said.

“The futures and swaps markets must function with confidence to allow end-users, farmers, and ranchers to effectively manage risk,” he continued. “That confidence hinges on customers knowing that regulators are doing their job.”