Washington, July 17 -- Congressman Shri Thanedar issued the following press release:
This week, Congressman Shri Thanedar (D-MI-13) and Congresswoman Kat Cammack (R-FL-03) introduced HR 9717, the Customer Property Protection Act, bipartisan legislation that creates regulations to ensure customer assets that are held by a commodity broker are protected in the scenario that the commodity broker goes bankrupt.
"As a lifelong serial entrepreneur, I know first-hand the innovative power of new financial technologies, and am encouraged by the rapid innovation currently taking place in the commodity sector," said Congressman Thanedar. "But with the Commodity Futures Trading Commission (CFTC) last reauthorized in 2008, current CFTC regulations are...