House Financial Services Committee considers financial market reform in Washington
Gary Gensler, chairman of the Commodity Futures Trading Commission, testifies before the House Financial Services Committee about reforming regulations on financial markets on Capitol Hill in Washington on July 22, 2009. (UPI Photo/Roger L. Wollenberg)
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The chairman of the Commodity Futures Trading Commission said regulators need jurisdiction over foreign bets made by U.S. banks to keep financial reform intact.
A former Commodity Futures Trading Commission regulator said the commission missed a cue from JPMorgan Chase as it delayed vote on a new rule.
The head of JPMorgan Chase Tuesday told a U.S. House panel an effort to limit risk actually led to the bank's massive losses in May.
U.S. financial regulators say they are moving to rein in the activities of oil speculators, whom they say are partly to blame for wild price swings.
The U.S. Commodity Futures Trading Commission said it was studying the option of setting limits on speculative trading to thwart manipulation of energy markets.
Gary Gensler, President-elect Barack Obama's choice to lead the Commodity Futures Trading Commission, would return to Washington if confirmed by the Senate.
President-elect Barack Obama revealed three more members of his economic team Thursday, announcing his choices for financial market and monetary regulators.
Veteran financial regulator Mary Schapiro was named Thursday as U.S. President-elect Barack Obama's choice to head the Securities and Exchange Commission.
"The Great Mutual Fund Trap" is what investors fall into if they buy actively managed funds with substantial management fees, according to Greg Baer and Gary Gensler in their new book of that name (Broadway Books, $26.)
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United Press International
United Press International
