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Committee Detail

Hide Section - GENERAL INFORMATION

GENERAL INFORMATION

Committee NameAgricultural Advisory CommitteeAgency NameCommodity Futures Trading Commission
Fiscal Year2019Committee Number305
Original Establishment Date6/8/1983Committee StatusChartered
Actual Termination Date Committee URLhttp://www.cftc.gov/About/CFTCCommittees/Agricu...
New Committee This FYNoPresidential Appointments*No
Terminated This FYNoMax Number of Members*40
Current Charter Date9/11/2018Designated Fed Officer Position Title*Director of Legislative Affairs
Date Of Renewal Charter9/11/2020Designated Federal Officer PrefixMr.
Projected Termination Date Designated Federal Officer First Name*N.
Exempt From Renewal*NoDesignated Federal Officer Middle NameCharles
Specific Termination AuthorityDesignated Federal Officer Last Name*Thornton
Establishment Authority*Agency AuthorityDesignated Federal Officer SuffixIII
Specific Establishment Authority*Commission Order 48 F.R. 26508Designated Federal Officer Phone*(202) 418-5145
Effective Date Of Authority*6/8/1983Designated Federal Officer Fax*
Committee Type*ContinuingDesignated Federal Officer Email*cthornton@cftc.gov
Presidential*No
Committee Function*Non Scientific Program Advisory Board
Hide Section - RECOMMENDATION/JUSTIFICATIONS

RECOMMENDATION/JUSTIFICATIONS

Agency Recommendation*Continue
Legislation to Terminate RequiredNot Applicable
Legislation StatusNot Applicable
How does cmte accomplish its purpose?*The AAC was formed to assist the Commission in obtaining information, advice and recommendations from agricultural producers, processors, storage providers, lenders and others interested in or affected by the agricultural derivatives markets and to serve as a channel of communication between the Commission and the many agricultural and agriculture-related organizations. The AAC continues to fulfill its mission by 1) assisting the Commission’s efforts to assess the effects of its existing regulations on the agricultural commodity, futures, and swaps markets and on the agricultural sector as a whole; 2) advising the Commission on matters relating to the fulfillment of its statutory mandate to regulate the derivatives markets, generally, and agricultural markets, in particular; and 3) representing a broad cross-section of the agricultural industry who are able to meet, on a regular basis, and whose knowledge and experience qualify them to provide support to items 1 and 2.
How is membership balanced?*The AAC charter includes a membership balance plan designed to elicit the broadest possible spectrum of viewpoints on issues relating to agriculture. Its members include representatives from: 1) agricultural producers and/or direct and indirect users/consumers of agricultural products, including general farm organizations, national commodity groups, and processing and marketing groups; 2) providers of agricultural credit; 3) other major market participants, including derivatives intermediaries, buy-side representatives, and exchanges; 4) regulators or representatives from other relevant government agencies, including representatives from the United States Department of Agriculture; and 5) academia or public interest groups.
How frequent & relevant are cmte mtgs?*The Commission’s goal is for the AAC to meet at least annually although the frequency of meetings may be adjusted depending on Commission priorities, budgetary considerations, and the availability of a sponsor. The Commission continues to rely upon and benefit from the advice and recommendations of the AAC's members.
Why advice can't be obtained elsewhere?*As the exclusive regulator of agricultural futures markets, the Commission has determined that it is necessary to obtain advice on issues directly impacting those affected by the regulation of these markets, as well as indirectly affected by the market's price discovery function. The AAC provides a forum to facilitate interaction with and communications between the Commission and the diverse agricultural and agriculture-related organizations represented on the AAC. The Commission has found that the most efficient and thorough means of obtaining such advice and facilitating such communications is through the current AAC framework, since, among other things, it would be difficult to assemble such a geographically diverse cross-section of persons that represent such a wide variety of agricultural organizations. Moreover, the AAC is the most cost effective way to access input and information, particularly since the Commission does not compensate members and does not provide for members' travel expenses and accommodations for meetings.
Why close or partially close meetings?N/A
Recommendation Remarks
Hide Section - PERFORMANCE MEASURES

PERFORMANCE MEASURES

Outcome Improvement To Health Or Safety*NoAction Reorganize Priorities*No
Outcome Trust In GovernmentYesAction Reallocate ResourcesNo
Outcome Major Policy ChangesNoAction Issued New RegulationsNo
Outcome Advance In Scientific ResearchNoAction Proposed LegislationNo
Outcome Effective Grant MakingNoAction Approved Grants Or Other PaymentsNo
Outcome Improved Service DeliveryNoAction OtherNo
Outcome Increased Customer SatisfactionNoAction CommentN/A
Outcome Implement Laws/Reg RequirementsYesGrants Review*No
Outcome OtherYesNumber Of Grants Reviewed0
Outcome CommentThe AAC assists the Commission with assessing issues impacting agricultural producers, processors, lenders, and others interested in or affected by the agricultural commodity, futures, and swaps markets, and also contributes to pending rulemakings and policy considerations within the Commission.Number Of Grants Recommended0
Cost Savings*Unable to DetermineDollar Value Of Grants Recommended$0.00
Cost Savings CommentN/AGrants Review CommentN/A
Number Of Recommendations*0Access Contact Designated Fed. Officer*No
Number Of Recommendations CommentN/AAccess Agency WebsiteYes
% of Recs Fully Implemented*0.00%Access Committee WebsiteNo
% of Recs Fully Implemented CommentN/AAccess GSA FACA WebsiteYes
% of Recs Partially Implemented*0.00%Access PublicationsNo
% of Recs Partially Implemented CommentN/AAccess OtherNo
Agency Feedback*Not ApplicableAccess CommentN/A
Agency Feedback CommentN/ANarrative Description*The Commodity Exchange Act grants the Commission exclusive jurisdiction to regulate derivatives markets, including agricultural futures markets, with a mission of fostering open, transparent, competitive, and financially sound markets; avoiding systemic risk; and protecting market users and their funds, consumers, and the public from fraud, manipulation, and abusive practices related to derivatives and other products. The AAC supports this mission by providing feedback to the Commission on how its regulations and the evolution of derivatives markets uniquely impact agricultural producers, storage providers, processors, lenders, and others interested in or affected by the agricultural commodity, futures, and swaps markets. The CFTC’s strategic plan has four goals: 1) Market Integrity and Transparency; 2) Financial Integrity and Avoidance of Systemic Risk; 3) Comprehensive Enforcement; 4) Domestic and International Cooperation and Coordination. Input to the Commission from the AAC supports all four of the CFTC’s strategic plan goals.
Hide Section - COSTS

COSTS

Payments to Non-Federal Members* Est Payments to Non-Fed Members Next FY* 
Payments to Federal Members* Est. Payments to Fed Members Next FY* 
Payments to Federal Staff* Estimated Payments to Federal Staff* 
Payments to Consultants* Est. Payments to Consultants Next FY* 
Travel Reimb. For Non-Federal Members* Est Travel Reimb Non-Fed Members nextFY* 
Travel Reimb. For Federal Members* Est Travel Reimb For Fed Members* 
Travel Reimb. For Federal Staff* Est. Travel Reimb to Fed Staff Next FY* 
Travel Reimb. For Consultants* Est Travel Reimb to Consultants Next FY* 
Other Costs Est. Other Costs Next FY* 
Total Costs$0.00Est. Total Next FY*$0.00
Federal Staff Support (FTE)* Est. Fed Staff Support Next FY* 
Hide Section - Custom Links

Custom Links

     Committee Level Reports               
Hide Section - MEMBERS,MEETINGS AND ADVISORY REPORTS

MEMBERS,MEETINGS AND ADVISORY REPORTS

To View all the members, meetings and advisory reports for this committee please click here
Hide Section - CHARTERS AND RELATED DOCS

CHARTERS AND RELATED DOCS

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Hide Section - DATA FROM PREVIOUS YEARS

DATA FROM PREVIOUS YEARS

Committee

Data from Previous Years

 
ActionCommittee System IDCommittee NameFiscal Year
 COM-001254Agricultural Advisory Committee2017
 COM-003174Agricultural Advisory Committee2016
 COM-003265Agricultural Advisory Committee2015
 COM-005133Agricultural Advisory Committee2014
 COM-005386Agricultural Advisory Committee2013
 COM-007410Agricultural Advisory Committee2012
 COM-007515Agricultural Advisory Committee2011
 COM-009528Agricultural Advisory Committee2010
 COM-009710Agricultural Advisory Committee2009
 COM-011360Agricultural Advisory Committee2008
 COM-011519Agricultural Advisory Committee2007
 COM-013243Agricultural Advisory Committee2006
 COM-013370Agricultural Advisory Committee2005
 COM-015175Agricultural Advisory Committee2004
 COM-015317Agricultural Advisory Committee2003
 COM-017065Agricultural Advisory Committee2002
 COM-017273Agricultural Advisory Committee2001
 COM-019054Agricultural Advisory Committee2000
 COM-019268Agricultural Advisory Committee1999
 COM-020931Agricultural Advisory Committee1998
 COM-021084Agricultural Advisory Committee1997
 COM-032637Agricultural Advisory Committee2018