U.S. Congress - H.R.4626 CFTC Reauthorization Act of 2007
H.R.4626 - CFTC Reauthorization Act of 2007
To reauthorize and amend the Commodity Exchange Act to promote legal certainty, enhance competition, and reduce systemic risk in markets for futures and over-the-counter derivatives, and for other purposes. view all titles (2)
All Bill Titles
- Short: CFTC Reauthorization Act of 2007 as introduced.
- Official: To reauthorize and amend the Commodity Exchange Act to promote legal certainty, enhance competition, and reduce systemic risk in markets for futures and over-the-counter derivatives, and for other purposes. as introduced.
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The net capital increases are anti-competitive and do absolutely nothing to address risk of firms. The net capital requirements have been increased twice since 2006 from $250,000 to $1 million and last month to $5 million. All this does is create a few firms that do not have customer best interest.