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  • Federal Open Market Committee Statement

    Date 26/01/2011

    Information received since the Federal Open Market Committee met in December confirms that the economic recovery is continuing, though at a rate that has been insufficient to bring about a significant improvement in labor market conditions. Growth in household spending picked up late last year, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, while investment in nonresidential structures is still weak. Employers remain reluctant to add to payrolls. The housing sector continues to be depressed. Although commodity prices have risen, longer-term inflation expectations have remained stable, and measures of underlying inflation have been trending downward.

  • Opening Statement, Meeting Of The Commodity Futures Trading Commission - Chairman Gary Gensler

    Date 26/01/2011

    Good morning. This meeting will come to order. This is a public meeting of the Commodity Futures Trading Commission to consider issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding: Reporting by Investment Advisers to Private Funds and Certain Commodity Pool Operators and Commodity Trading Advisors on Form PF (joint with the Securities and Exchange Commission) and Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance Obligations.

  • Kansas City Board Of Trade Announces Officers, Directors For 2011 - Michael P. Simmons Elected Chairman

    Date 26/01/2011

    The Kansas City Board of Trade announces 2011 officers and directors, who took office at a regular board meeting held yesterday. Members of the Kansas City Board of Trade elected Michael P. Simmons, an individual member, as chairman in an election held earlier this month. Simmons served as first vice chairman of the KCBT in 2010 and as second vice chairman in 2009. The first vice chairman traditionally has assumed the chairmanship of the KCBT in the following year.

  • Statement On Support Of The Dodd-Frank Rulemaking Of CFTC Chairman Gary Gensler

    Date 26/01/2011

    Statements for the record on each rule: I support the proposed joint rulemaking with the Securities and Exchange Commission (SEC) that requires reporting by investment advisers to private funds that are also registered as commodity pool operators (CPOs) or commodity trading advisors (CTAs) with the CFTC. I also support the CFTC’s proposed amendment to compliance obligations of CPOs and CTAs. The joint rule requires private fund investment advisers with assets under management totaling more than $150 million to provide the SEC with financial and other trading information. Private fund investment advisers with assets under management totaling more than $1 billion would be subject to heightened reporting requirements. I support the CFTC rule that would bring similar reporting to CPOs and CTAs with assets under management greater than $150 million that are not otherwise jointly regulated. This is to ensure that similar entities in the asset management arena are regulated consistently. Lastly, the proposal repeals certain exemptions issued under Part 4 of the Commission’s regulations so the Commission will have a more complete picture of the activity of operators of and advisors to pooled investment vehicles in the commodities marketplace.

  • Speech By SEC Commissioner: Statement At Open Meeting To Adopt A Final Rule Regarding Shareholder Approval Of Executive Compensation And Golden Parachute Compensation

    Date 26/01/2011

    Thank you, Chairman Schapiro. I join my colleagues in thanking the staff — particularly those from the Division of Corporation Finance — for your efforts on this rulemaking.