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CFTC says it is not probing Icahn's activity in biofuels credits 

June 6, 2017

Timothy Gardner, Reuters UK

"The U.S. Commodity Futures Trading Commission informed eight Democratic U.S. senators last month that it is not investigating biofuels credits after the lawmakers had urged it to probe billionaire Carl Icahn's activity in that market, according to a copy of a letter seen by Reuters on Monday.

The Democratic senators, including Elizabeth Warren and Sherrod Brown, had urged the CFTC and other regulators to investigate whether Icahn, an adviser to President Donald Trump, had violated insider trading laws, or anti-market manipulation laws in so-called Renewable Identification Numbers, or RINs markets. The CFTC said in the letter dated May 19 that RINS are not traded on futures markets.

For months, Democratic lawmakers and liberal watchdog groups have voiced concerns that Icahn's dual role as a high-powered investor and a presidential adviser could lead to conflicts of interest."

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