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![handle is hein.gao/gaobadxxp0001 and id is 1 raw text is:
DOCUIT RSU
05043 - [ 90585476 ]
The Commodity Futures Trading Commission, Pebruary 22# 1976. 20
pp.
Testinoay before the Rouse Committee an griculturo
conservation and Credit Subcomaitt-2; the Senate Comattee on
aqriculture. Nutritutiong and Poreatry: Agricultural Research
and General Legislation Subcommittee; by Ilme r a. Staatsp
comptroller General; fenry schwege. Director. Community and
Economic D Vaopent Div.
contact: Community and Economic D*velopenmt Div.; OfoW Nf the
comptroller General.
Orqanization Concerned: Commodity utures trading Cmosiisiou
Congressional Relevance: louse Constta an Agriculturot .
conservation and Credit Subcosmittee, Senate Comdttee on
Aqriculture, lutritution. and 1.-estrjy A ricultexal
Research and General Leislatifin 5b:osMittG.
authority: Ro.. 10285 (95th Cong.). S. g391 (95th Coag.)°
GAO previously recommended the establishment of an
independent agency to regulate the conmmUty tutours iuastry
and still believes that such an agency is the aost eifwtiwe
seans of regulating the indvstry. A review of the ComodIt?
Futures trading Commission resulted in tentative findings that:
more emphasis on planning is needed to improve the eofectiveness
and efficiency of operations; there are ueaknesos in
organization and management, such as &Aited management
experience, division of responsibili i1, high &at* of turnovers
and use of outside experts who may not best :epresent the public
interest; inproriemont, are needed In the process for designating
exchanqes as contract markets; review of echange rule
enfoxcesent is Leficient; efforts at curbing abusive trading
practicin shouad be iatensified; registration and audit programs
could be. nove efectIve; market surveillarce should be improved;
and the conmissiou has been unable to provide effective
regulation of the sale of commodity options. the newness of the
Conmission accounts for many problems. (STt)](ViewImageLocal?handle=hein.gao/gaobadxxp0001&div=1&collection=&method=preview&ext=.png&size=3)