Delay in Congress threatens indefinite stall
Commodity Futures Trading Commission (CFTC)'s
reauthorisation act was bogged down last week by a late
political push to broaden the scope of the regulator's
oversight of natural gas markets. Debate over the measure could
delay reauthorisation into next year.
The House of Representatives approved its bill on 14
December but the Senate had not yet voted on its version by
The two legislative branches need to synchronise the
legislation in order for the bill to pass, but that appeared
unlikely to happen before Congress adjourned for the holidays
at the end of last week.
Ultimately, CFTC reauthorisation can not be addressed again
until Congress reconvenes in late January, which could put the
process into indefinite limbo. CFTC has operated in the past
without reauthorisation for months and with 2006 being an
election year for many in Congress, it could be pushed down the
priority list in favour of more politically engaging
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