Fanni Koszeg | Bloomberg Law CFTC & SEC Congressional Testimony, Gary Gensler & Mary Shapiro (Dec. 1, 2011) Gary Gensler, Chairman of the Commodity Futures Trading Commission (CFTC) and Mary Schapiro, head of the Securities and Exchange Commission (SEC), testified before the U.S. Senate Committee on Agriculture, Nutrition and Forestry (Committee) at a hearing scheduled to address implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). In their prepared testimonies, both regulators detailed the progress of their respective rulemaking efforts to implement Title VII of Dodd-Frank, but the overwhelming majority of questions required them to address the MF Global, Inc. (MF Global) bankruptcy. The Committee is in charge of overseeing the CFTC and, accordingly, Gary Gensler was the target of many questions regarding his role in the events leading up to the MF Global bankruptcy and his subsequent recusal from the investigation initiated by the CFTC.
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