Rep. Austin Scott, Chairman of the House Agriculture Committee's Subcommittee on Horticulture, Research, Biotechnology and Foreign Agriculture, held a public hearing to review the impact of enforcement activities by the U.S. Department of Labor (DOL) on specialty crop growers. Specifically, Subcommittee Members addressed growing concerns that DOL is using the "Hot Goods" provision under the Fair Labor Standards Act of 1938 (FLSA) in an arbitrary manner against producers of perishable agricultural commodities without regard for the inevitable destruction of the product and significant economic hardship inflicted on farmers and their employees.
Oversight of the Swaps and Futures Markets: Recent Events and Impending Regulatory Reforms
July 25, 2012 - The House Agriculture Committee held a public hearing to examine the collapse of Peregrine Financial Group, Inc., the LIBOR manipulation, and receive an update on MF Global and Dodd-Frank implementation. PFGBest filed for bankruptcy shortly after regulators froze their operations through emergency enforcement actions. More than $200 million in customer funds are missing.