Agricultural Advisory Committee
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Agricultural Advisory Committee (AAC) provides strategic advice to the CFTC on issues affecting agricultural markets, including futures and options trading in agricultural commodities. The committee focuses on market structure, sustainability, and technological advancements in agricultural finance.
Mission
The AAC's mission is to offer insights and recommendations to the CFTC on regulatory and policy matters concerning agricultural markets. This includes fostering market transparency, preventing manipulation, and supporting the agricultural sector's economic health through informed policy-making.[1]
Parent organization
The AAC operates under the U.S. Commodity Futures Trading Commission (CFTC), which is an independent agency responsible for regulating derivatives markets including futures, swaps, and certain options contracts.[2]
Legislation
While not established by specific legislation, the AAC is formed under the CFTC's broader authority to create advisory committees as per the Federal Advisory Committee Act (FACA).
Partners
- Agricultural producers and cooperatives
- Commodity exchanges
- Academic institutions specializing in economics and agriculture
- Consumer and environmental groups[3]
Number of employees
The AAC consists of members who serve in a voluntary capacity, thus there are no traditional employees. The number of members can vary, but typically includes representatives from various sectors.
Organization structure
Members of the AAC are appointed to represent a broad spectrum of stakeholders in the agricultural commodities market, including producers, traders, academics, and consumer advocates.
Leader
The committee is led by a Chair, appointed by the CFTC, who manages meetings and communicates the committee's advice to the CFTC.
Divisions
The AAC doesn't have formal divisions but might form subcommittees for specific topics:
- Subcommittees could focus on market integrity, technological innovation, or sustainability in agriculture.
List of programs
- Review and analysis of agricultural market conditions
- Recommendations on regulatory reforms
- Discussion on emerging issues like climate change impacts on agriculture
Last total enacted budget
The budget for the AAC is not publicly specified; it operates within the CFTC's budget for advisory activities.
Staff
The committee does not have dedicated staff; administrative support is provided by CFTC personnel.
Funding
Funding for the AAC's activities comes from the CFTC's general operational budget.
Services provided
The AAC provides advisory services, focusing on policy recommendations that aim to ensure fair, efficient, and competitive agricultural markets while addressing sustainability and technological changes.
Regulations overseen
While the AAC does not oversee regulations, its recommendations can influence CFTC policies and regulations related to agricultural commodities, market transparency, and integrity.
Headquarters address
1155 21st Street NW, Washington, DC 20581, United States
History
The AAC has been pivotal in advising the CFTC on the evolving landscape of agricultural markets, particularly in areas like market transparency, sustainability, and technological adaptation, since its establishment.[4]
External links
References
- ↑ U.S. Commodity Futures Trading Commission. "Agricultural Advisory Committee". CFTC, https://www.cftc.gov/About/AdvisoryCommittees/AAC/index.htm (accessed February 8, 2025).
- ↑ U.S. Commodity Futures Trading Commission. "About the CFTC". CFTC, https://www.cftc.gov/About/index.htm (accessed February 8, 2025).
- ↑ Posts found on X discussing the AAC's collaborations.
- ↑ U.S. Commodity Futures Trading Commission. "Agricultural Advisory Committee". CFTC, https://www.cftc.gov/About/AdvisoryCommittees/AAC/index.htm (accessed February 8, 2025).