Is this a coincidence or a consequence? Immediately after being persuaded by Senator Elizabeth Warren to withdraw a report criticizing the imposition of position limits on energy products (see, ""), Commissioner Giancarlo seems disparaging of other CFTC rules that may discourage speculation and so diminish the availability of parties willing to trade with hedgers.

The withdrawal of the EEMAC report is a disturbing development on two levels. It is a statement about current levels of tolerance for dissent. It is also a development regarding the substance of a proposed policy that simply refuses to conform to real world facts. 

First, notwithstanding Senator Warren's assertions, there does not seem to be anything either legally or substantively defective in the report. The Senator could not blot the report out of…

The SEC's first investor guide did not address the issue of candidate impersonators.

The SEC noted that the water district was the second municipal issuer ever to pay a financial penalty in an SEC enforcement action. The press release did not discuss the extent to which that issuer or its officers could assert a defense of sovereign immunity.