Markets and Finance

Remarks as prepared for delivery: Good morning. I want to welcome you all to today’s hearing examining the upcoming agenda at the Commodity Futures Trading Commission. I’d like to start by welcoming back Chairman Giancarlo. Chris, it’s great to have you back here. The committee last met with you in October and at that time, you were working on a number of important initiatives at the commission, notably, LabCFTC and Project KISS. You also outlined a plan to begin refining the Title VII swaps rul... Read more

Washington, D.C. – Today, the House Agriculture Committee held a hearing to shed light on the promise of digital assets and the regulatory challenges facing this new asset class to ensure the promotion of strong markets for commodities of all types. Following the hearing, Chairman K. Michael Conaway (TX-11) issued the below remarks: “Digital assets hold immense promise as an emerging area of commerce, but as today’s hearing highlighted, identifying tokens as either a security or commodity remain... Read more

Remarks as prepared for delivery: Good morning. I see a lot of new faces today as we tackle a cutting-edge topic for the committee: digital assets. For those of you who have not joined us before, welcome. We are happy to have you as we discuss an emerging policy area that is of deep interest to our members, to the emerging cryptocurrency industry, and…we hope…to Americans of all stripes. Digital assets like Bitcoin and Ether, but also like hundreds of other token-based projects that are being de... Read more

Washington, D.C.— Today, House Agriculture Committee Chairman K. Michael Conaway (TX-11) and Livestock and Foreign Agriculture Subcommittee Chairman David Rouzer (NC-07) issued the following comments in response to the Trump administration's decision to withdraw a controversial Grain Inspection, Packers and Stockyard Administration (GIPSA) interim final rule and take no further action on a complementary proposed rule released in the final days of the Obama administration: “After nearly a decade ... Read more

Washington, D.C.—Today, the House Agriculture Committee held a hearing examining the agenda for the Commodity Futures Trading Commission (CFTC) under the leadership of newly confirmed Chairman Christopher Giancarlo. Following the hearing, Agriculture Committee Chairman K. Michael Conaway (TX-11) issued the below remarks: “In his short time as chairman, Chris has already shown a dedication to modernizing and improving the management of the CFTC. My colleagues and I have long advocated for a revie... Read more

Remarks as prepared for delivery: Good morning. I would like to thank Chairman Giancarlo for being here today to highlight his plans for the CFTC. I first want to congratulate him on his nomination and confirmation. I count Chris as a friend; I have enjoyed his counsel and the opportunity to work with him the past three years. He is going to make a fine Chairman of the CFTC and I have all the confidence in him. I would also like to thank our colleagues in the Senate for their quick action in co... Read more

Washington, D.C. – House Agriculture Committee Chairman K. Michael Conaway (TX-11) today issued the following statement after the Senate Agriculture Committee held a hearing on three nominations for commissioners to the U.S. Commodity Futures Trading Commission (CFTC): “I applaud the White House for its quality nominations to the CFTC and thank the Senate Agriculture Committee for their swift consideration. As we look to protect the public and ensure the integrity of our futures and swaps market... Read more

Washington, D.C. – Today, the House Agriculture Committee held a hearing examining the regulation of derivative clearinghouses and how cleared markets may respond to a future financial crisis. Chairman K. Michael Conaway (TX-11) made the following remarks after the hearing: “Clearinghouses are essential to financial markets. As the committee continues its oversight of these institutions, it is essential to understand their role in the well-being of our financial markets, and the new risks a fina... Read more

Remarks as prepared for delivery: Good morning. Thank you for being here today. Today’s hearing builds on the important work done by the CEEC subcommittee last year, under the helm of Chairman Austin Scott and Ranking Member David Scott. I want to thank them for their work examining how well our regulators responded to the financial crisis. While those hearings were focused on past performance, today’s hearing examines the possibility for a future financial crisis and how our cleared markets may... Read more

Washington, D.C. – Today, House Agriculture Committee Chairman K. Michael Conaway (TX-11) welcomed newly-confirmed U.S. Department of Agriculture (USDA) Sec. Sonny Perdue to Capitol Hill to testify on the “State of the Rural Economy.” Following the hearing, Chairman Conaway made the below statement: “Against the backdrop of a four-year, 50-percent decline in net farm income, Sec. Perdue’s comments today rightly recognized the concern of America’s farmers and ranchers and the many challenges face... Read more