HR 2289 · 114th Congress · Finance and Financial Sector
Commodity End-User Relief Act
Bill Progress
1
Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.(2015-06-10)
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Plain Language Summary
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Commodity End User Relief Act Amends the Commodity Exchange Act (CEA) to direct registered futures associations to require their futures commission merchant members to: maintain written policies and procedures governing maintenance of members’ specified residual interests in customer segregated funds accounts, including cleared swaps customer collateral accounts; and establish rules governing the withdrawal, transfer, or disbursement of a member's residual interest in customer segregated funds, in foreign futures and foreign options customer secured amount funds, and from a cleared swaps customer collateral. Authorizes the Commodity Futures Trading Commission (CFTC) to require that property of the bankruptcy estate, including trading or operating accounts and commodities held in inventory, of a commodity broker who is a Chapter 7 debtor in bankruptcy be included in customer property to the extent that such property is insufficient to satisfy the net equity claims of the broker's public customers. Extends authority for CFTC operations. Amends the CEA to revise the requirement that the CFTC, before promulgating a regulation or issuing an order, consider the costs and benefits o…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 2289, Commodity End-User Relief Act
May 28, 2015As ordered reported by the House Committee on Agriculture on May 13, 2015
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (3)
1 Democrat2 Republicans