Mike Conaway: “I include in the Record the following letters of support for H.R. 238: January 11, 2017. Hon. Paul Ryan, Speaker, House…”

“I include in the Record the following letters of support for H.R. 238: January 11, 2017. Hon. Paul Ryan, Speaker, House of Representatives, Washington, DC. Hon. Nancy Pelosi, Democratic Leader, House of Representatives, Washington, DC. Dear Speaker Ryan and Leader Pelosi: FIA supports H.R. 238, the ``Commodity End User Relief Act''. Notably, this legislation reauthorizes the Commodity Futures Trading Commission (CFTC), which has been without statutory authorization for almost four years. In addition to reauthorizing the CFTC, Congress has historically taken the opportunity of reauthorization to periodically review and enhance the CFTC's authorities. This is essential in a regulatory environment where the marketplace is extremely dynamic. Given the constantly evolving structure to which these regulatory authorities apply, it is prudent for Congress to consider updating the statute in response to market changes. We commend the House Committee on Agriculture for efforts to build upon previous work and advance this legislation. H.R. 238 contains prudent internal risk controls to safeguard market data and improved customer protections sought by the market participants who rely on derivatives to manage their risks. These are examples of policy enhancements that have garnered tremendous favor in recent years as evidenced by the bi-partisan support they have received in previous Congressional sessions.…”