HR 707 · 102th Congress · Agriculture and Food

Futures Trading Practices Act of 1992

Introduced 1991-01-29· Sponsored by Rep. English, Glenn [D-OK-6]· House

Bill Progress

1
Introduced
Committee
3
House Vote
4
Senate
Enacted
Latest: Became Public Law No: 102-546.(1992-10-28)

Plain Language Summary

[AI summary unavailable — showing source text] Commodity Futures Improvements Act of 1991 - Title I: Limitations on Certain Trading Practices - Amends the Commodity Exchange Act to prohibit dual trading by a floor broker in a contract market in which the Commodity Futures Trading Commission (CFTC) has determined the average daily trading volume to equal or exceed a threshold trading level. Exempts a board of trade from such prohibition if it can show adequate trading violation surveillance (audit trails). Limits trading among members of broker associations. Requires the CFTC to determine and report to the appropriate congressional committees with regard to whether the public interest would be best served by placing alternative restrictions or prohibitions on broker association trading. Title II: Enhancement of Regulatory and Enforcement Activities - Sets forth audit trail requirements, including one-minute transaction recording. Requires a CFTC compliance report to be filed with the appropriate congressional committees. Requires each futures association to adopt telemarketing fraud disciplinary criteria, which shall include a prohibition on a person who has solicited a new account by telephone from entering any orders for such …

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (3)

2 Democrats1 Republican