John Baldacci said "I rise in support of the Commodity Futures Modernization Act. The legislation has been a product of a lot of hard work over several years, and the reforms are a long time in coming. But between now and when the committee dealt with it, it has been undergoing some changes, which is not really surprising. However, some of what I supported has been taken out. I hope we can continue working on this when we revisit one of those issues. With respect to the definition of eligible contract participants, the CFTC has the broad authority to determine that other persons are eligible beyond those specifically listed. It is my understanding that the commodity trading advisors, with over $25 million in client assets under management, are among those other persons which the CFTC should determine to meet the requirements." @ PoliticalQuotes.com

On the recordOctober 19, 2000

I rise in support of the Commodity Futures Modernization Act. The legislation has been a product of a lot of hard work over several years, and the reforms are a long time in coming. But between now and when the committee dealt with it, it has been undergoing some changes, which is not really surprising. However, some of what I supported has been taken out. I hope we can continue working on this when we revisit one of those issues. With respect to the definition of eligible contract participants, the CFTC has the broad authority to determine that other persons are eligible beyond those specifically listed. It is my understanding that the commodity trading advisors, with over $25 million in client assets under management, are among those other persons which the CFTC should determine to meet the requirements.

Said by

John Baldacci

Democratic · Maine

Source

govinfo.gov

Editor's note · Context

Speaking in support of the Commodity Futures Modernization Act during a House floor debate.

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