Chambliss: CFTC combating manipulation in the futures market

Submitted by the office of Sen. Chambliss (WASHINGTON, D.C. — U.S. Senator Saxby Chambliss (R-Ga.) Thursday took to the Senate floor to ensure that his fellow senators are aware of ongoing enforcement activities at the Commodity Futures Trading Commission (CFTC). Chambliss specifically noted that Thursday the Commission brought action against a hedge fund for allegedly manipulating crude oil, heating oil and gasoline markets. During his speech, Chambliss noted that the surveillance efforts used to identify this activity may also provide additional data to the Commissioners for ongoing monitoring efforts to detect excessive speculation. The Senate is currently debating S.3286, the “Stop Excessive Energy Speculation Act.” “The Commission has recognized that more information is necessary to ensure that speculation has not become... [read full story]