Tom Harkin: “This is basically an extension of the Commodity Exchange Act of 2013. I wish to state for the record we would not…”

“This is basically an extension of the Commodity Exchange Act of 2013. I wish to state for the record we would not ordinarily include the Commodity Exchange Act in the farm bill, but for various reasons we were unable to reauthorize the CEA in the last Congress. This amendment further regulates energy transactions that perform a significant price discovery function. This is an issue Senators Feinstein and Levin have been working hard on. The amendment also addresses fraud and retail transactions in foreign exchange markets. It gives the CFTC broader authority to prosecute fraud in other commodities such as heating oil. I am very pleased we are able to work through the reauthorization issues with the ranking member, Senator Crapo, and numerous cosponsors of this amendment.”