CFTC asks for new powers to fight fraudulent contracts

06/9/2009 | Wall Street Journal, The

The Commodity Futures Trading Commission reportedly has received more than 50 complaints about possibly fraudulent retail commodity contracts. "The regulatory reform package should include a provision to expand the CFTC's jurisdiction over this type of retail fraud to all types of commodities," CFTC Chairman Gary Gensler said in written testimony delivered to a Senate committee.

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Wall Street Journal, The