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House Ag Committee
Foreign Regulators Caution: Cooperation Essential to Market Stability. Read Here: http://1.usa.gov/TRbyQY
Again this is the first time US Congress has heard from International regulators with respect to the Dodd-Frank Act.
Lucas speaking with Mr. Kono and Mr. Pearson on dodd-frank issues facing foreign regulators.
Lucas: Reforming the OTC derivatives mrktplace is a global effort that demands serious & genuine coordination-not appearance of coordination
Questioning of witnesses is now starting with Subcmte Chair @ConawayTX11
The purpose of this Hrg is to gain a greater understanding of ways to achieve real coordination between U.S. and International regulators
Panel 2 cont: Mr Patrick Pearson, Head of Unit, Market Infrastructure Unit, DG Internal Market and Services, European Commission
Panel 2: Mr. Masamichi Kono, Vice Commissioner of Int'l Affairs, Financial Service Agency of Japan; Chairman, IOSCO
Panel 1 also includes: Hon Jill Sommers, Commissioner, US CFTC
FYI: In an effort to save time Panel 1 and Panel 2 have been combined. Panel 1 includes: Hon. Bart Chilton, Commissioner, US CFTC
We can ill-afford to implement reform w/o a good faith attempt to cooperate with Int'l community so we do not neg impact global markets
Conaway: It does not appear Chair Gensler is ready to accept that foreign efforts on reg reform will be equivalent to rules proposed by CFTC
Subcmte Chair @ConawayTX11 giving his opening statement now
Dodd-Frank Derivatives Reform: Challenges Facing US & International Markets Subcmte Hrg Starts at 9am ET Watch Here: http://1.usa.gov/U9h7dR
TOMM at 9:00am ET @HouseAgNews Subcmte Hrg - Dodd-Frank Derivatives Reform: Challenges Facing US & Int'l Markets http://1.usa.gov/U9h7dR
Thank you @TexasWheat! @HouseAgNews Chair Lucas Named Texas Wheat Man of the Year http://bit.ly/YFq3P4
Lucas finishing up at Farm Journal Forum emphasizing the key points of the Farm Bill and ending with questions on Farm Bill & fiscal cliff.
Chris Clayton
Lucas makes clear in talk the importance of keeping a countercyclical program as an option for farmers. Senate #farmbill did not have one.
Lucas at Farm Journal:"We need to give producers a choice," on crop insurance in the Farm Bill.
Chair Lucas speaking at the 2012 Farm Journal Forum. pic.twitter.com/b1CGeQ0i
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