For Release: February 13, 2008
CFTC Establishes New Energy Markets Advisory Committee
Washington, DC – The Commodity Futures Trading Commission (CFTC) announces today the establishment of an advisory committee that will provide a public forum to examine emerging issues related to the energy markets and the CFTC’s role in these markets under the Commodity Exchange Act.
CFTC Acting Chairman Walter L. Lukken will serve as Chairman of the new Energy Markets Advisory Committee (EMAC). EMAC members will be named at a later date, but will include representatives from a cross-section of the industry with knowledge of the energy markets, including exchanges, producers, market users, and consumers.
“Energy markets and prices are critical to all Americans,” said CFTC Acting Chairman Walt Lukken. “The role of the futures markets for discovering prices and managing energy price risks will continually raise new regulatory issues. Establishing this advisory committee will help us to meet these regulatory challenges and improve our understanding of and communication with the energy markets.”
The EMAC is charged with:
- conducting public meetings
- serving as a vehicle for discussion on matters of concern to exchanges, firms, end users and regulators regarding energy markets and their regulation by the CFTC
- submitting reports and recommendations to the CFTC
The CFTC held a public hearing in September 2007 that examined the role of Exempt Commercial Markets, including energy trading on those venues. A month later, the CFTC sent a report to Congress, including its recommendation to establish an Energy Markets Advisory Committee at the CFTC.
R. David Gary
Last Updated: February 12, 2008