France to tighten commodity derivatives regulation

Three French ministers have warned the European Commission (EC) that it will overhaul its commodities oversight regulation, in a bid to stop speculative commodities price movements caused by financial bets in the market.

France is also calling for a Europe-wide crackdown on the derivatives market. French President Nicholas Sarkozy has said that forging an international agreement on tightening commodities derivatives regulation is one of his main objectives for France's presidency of the G20