We believe the proposed regulations are unnecessarily narrow, impose onerous reporting obligations on commercial market participants, and lack the flexibility necessary to ensure that the legitimate hedging activities of corporations who carry cash market risks in physical commodities continue to receive treatment as ``bona fide'' hedges under the rules.
Lucas criticizes proposed regulations for being too restrictive on market participants.
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More from Frank Lucas
I have to acknowledge this: I can't think of a better set of hands to have the chairmanship of this critically important committee of Science, Space, and Technology in than Chairman Babin and Ranking Member Lofgren and my good friend, the…
I have no further requests for time, and I am prepared to close once the gentlewoman from California closes.
You have reiterated how Members of the Board would like to see a revised Basel proposal put out for public comment.
As long as it is not contrary to the commitments we have given to the other entities.
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