It updates the Commodity Exchange Act (CEA) Section 2(c)(2)(D) Spot Commodities (Metals) and Section 2(c)(2)(E) Spot Forex.
The auditor for a firm like this must annually review the procedures for safeguarding customer and firm assets in accordance with the Commodity Exchange Act.
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During her tenure with the exchange, she had the opportunity to work closely with congressional staff drafting the Commodity Futures Modernization Act of 2000.
Or, on given days during the uncertainty the gold market could see selling pressure if it decides follow the rest of the raw commodity sector and act like a risk asset.
If this situation deteriorates in the coming weeks, it could at times be bearish and bullish for the gold market bearish if gold decides to act like just another raw commodity on a given day, and bullish if gold decides to act like a safe-haven asset.
Under the newly minted 2010 Dodd-Frank Act, the Commodity Futures and Trading Commission is chartered to monitor non-agricultural commodities trading, to promote transparency and to prevent asset bubbles.
Investors this week have found confidence a rare commodity with sellers been forced to act against better judgment as the economic picture starts to look less and less convincing.
The new regulation is a part of the Dodd-Frank financial reform act, under which the Commodity Futures Trading Commission (CFTC) proposed rules for how OTC derivatives clearing houses should be regulated.
Already, lots of energy and commodity exchanges are trying to get into the act.
Similar proposals have already been made by the Commodity Futures Trading Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA).
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