Commodity Futures Trading Commission (CFTC)'s reauthorisation act was bogged down last week by a late political push to broaden the scope of the regulator's oversight of natural gas markets. Debate over the measure could delay reauthorisation into next year.
The House of Representatives approved its bill on 14 December but the Senate had not yet voted on its version by press time.
The two legislative branches need to synchronise the legislation in order for the bill to pass, but that appeared unlikely to happen before Congress adjourned for the holidays at the end of last week.
Ultimately, CFTC reauthorisation can not be addressed again until Congress reconvenes in late January, which could put the process into indefinite limbo. CFTC has operated in the past without reauthorisation for months and with 2006 being an election year for many in Congress, it could be pushed down the priority list in favour of...