FIA EVENTS » 9/8 - 9/9 FIA OIC Equity Options Conference » 9/17 - 9/19 FIA 4th Annual Asia Derivatives Conference in Tokyo » 11/10 - 11/12 FIA 24th Annual Futures & Options Expo » 3/11 - 3/14 FIA 34th Annual International Futures Industry Conference - Boca 2009 DIVISION EVENTS » 9/10 4th Annual FIA Chicago Golf Outing » 9/22 FIA FSD Angelo Laspina Golf Outing » 9/23 FIA IT Division presents Exchange Technology Leaders View FI Calendar FIA Urges House Republican Leader to Oppose Energy Speculation Bill FIA President John Damgard sent a letter to Representative John Boehner (R-Ohio) on July 29 expressing strong opposition to H.R. 6604, the Commodity Markets Transparency and Accountability Act of 2008. Damgard warned that the bill would cause “adverse consequences” for the futures industry and make hedging energy risk more uncertain and costly if it were to become law. Click here to download full .pdf version of letter. FIA Participates in Coalition to Protect Competitive Markets The Coalition to Protect Competitive Markets is a broad-based coalition from the financial services industry that is committed to educating lawmakers and the public about the real reasons oil and gas prices are rising and to set the record straight about the role that investors play in the commodity markets. Other members of the coalition include CME Group, Commodity Markets Council, The Financial Services Roundtable, IntercontinentalExchange, International Swaps and Derivatives Association, Managed Funds Association, The New York Mercantile Exchange, and Securities Industry and Financial Markets Association. Visit the Coalition’s web site at: http://whyaregaspriceshigh.org/about.htm FIA Helps Defeat S. 3268, the "Stop Excessive Energy Speculation Act of 2008" The FIA joined with four other financial services trade associations in urging the Senate to oppose S. 3268, the "Stop Excessive Energy Speculation Act of 2008." In a letter sent to members of the Senate on July 25, just ahead of an important vote, the five groups said the bill would restrict investment in energy futures, make hedging more expensive, and force trading operations overseas. The bill, which was introduced by Senate Majority Leader Harry Reid, D-Nev., on July 15 in response to the surge in energy prices, would require the CFTC to tighten position limits on energy futures, impose reporting requirements on foreign futures exchanges, create a new definition of “legitimate” hedging transactions, and eliminate "excessive" speculation in energy markets. During the subsequent vote on July 25, the Senate Democratic leadership was unable to win enough votes to proceed with the bill, and it was set aside until after the summer recess. Click here to download full .pdf version of letter Bloomberg TV: FIA President John Damgard Discusses Oil Speculation on Thursday's edition of Money & Politics Watch now FIA Statement on S. 3268, the Stop Excessive Energy Speculation Act of 2008 Washington, D.C.-July 17, 2008-The Futures Industry Association today released the following statement expressing its opposition to S. 3268, the bill titled "Stop Excessive Energy Speculation Act" that is now pending in the U.S. Senate. The Futures Industry Association agrees with the judgment adopted in recent congressional testimony by Federal Reserve Chairman Ben Bernanke: speculation is not the cause of high energy prices. Many Americans are suffering from the increased cost of energy. A comprehensive national energy policy is essential to reduce that suffering. 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