Today the Senate Committee on Agriculture, Nutrition and Forestry held a hearing on the continuing oversight of the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Hon. Gary Gensler, Chairman of the Commodity Futures Trading Commission and the Hon. Mary Schapiro, Chairman of the Securities and Exchange Commission testified before the committee.

While the hearing was to provide oversight implementation to Dodd-Frank, much of the hearing centered around the recent failure of financial MF Global.

Senator Boozman questioned Chairmen Gensler and Schapiro regarding the nature, and possible criminality of the recent collapse of MF Global that left thousands of investors, famers, ranchers and small business owners without access to hundreds of millions of dollars.

The Ag committee has oversight jurisdiction over Title VII of Dodd-Frank, which governs commodities and futures trading.