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Article: Commodity Futures Trading Commission
- Article from:
- West's Encyclopedia of American Law
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COMMODITY FUTURES TRADING COMMISSION
The Commodity Futures Trading Commission (CFTC), the federal regulatory agency for futures trading, was established by the Commodity Futures Trading Commission Act of 1974 (88 Stat. 1389; 7 U.S.C.A. 4a), approved October 23, 1974. The commission began operation in April 1975 and its authority to regulate futures trading was renewed by Congress in 1978. Its authority was again renewed with the Commodity Futures Modernization Act of 2000, which also mandated major reforms of the commission. The CFTC maintains a comprehensive web site at <http://www.cftc.gov>.
The CFTC consists of five commissioners who are appointed by the president with the ...