Senate’s Levin Questions Reach of CFTC Speculative Trade Curbs

Nov. 3 (Bloomberg) -- U.S. Senator Carl Levin raised concerns about the reach of Commodity Futures Trading Commission limits on speculative trading, saying the curbs wouldn’t restrict many speculative firms.

Levin, the Michigan Democrat who leads the Permanent Subcommittee on Investigations, made the comments today at a hearing on the CFTC’s position-limits rule in Washington. CFTC Chairman Gary Gensler is scheduled to testify.

To contact the reporter on this story: Silla Brush in Washington at sbrush@bloomberg.net

To contact the editor responsible for this story: Lawrence Roberts at lroberts13@bloomberg.net