HR 238 · 115th 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.(2017-01-17)
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Plain Language Summary
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Commodity End User Relief Act This bill reauthorizes through FY2021, and revises provisions related to, operations of the Commodity Futures Trading Commission (CFTC). In addition, the bill amends the Commodity Exchange Act to direct registered futures associations to require their futures commission merchant members to meet certain procedural and reporting requirements. The CFTC is authorized to require that certain property of the bankruptcy estate of a commodity broker who is a debtor in Chapter 7 bankruptcy (also known as "liquidation" 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. Before promulgating a regulation or issuing an order, the CFTC must publish an assessment of the costs and benefits of the action. The heads of the CFTC's administrative units shall serve at the pleasure of the CFTC. The bill establishes, within the CFTC, the Office of the Chief Economist. The duration of an omnibus order of investigation (authorizing the CFTC to issue subpoenas to multiple persons in relation to a particular subject matter area) shall not be indefinite. The bill exempts s…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (3)
1 Democrat2 Republicans