HR 11955 · 93th Congress ·

Commodity Futures Trading Commission Act

Introduced 1973-12-13· Sponsored by Rep. Poage, W. R. [D-TX-11]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Agriculture.(1973-12-13)

Plain Language Summary

[AI summary unavailable — showing source text] Commodity Futures Trading Commission Act - Title I: Commodity Futures Trading Commission - Establishes a Commodity Futures Trading Commission, under the Commodity Exchange Act, to be composed of five Commissioners consisting of the Secretary of Agriculture or his designee from the Department of Agriculture and four members of the general public, to be appointed by the President with Senate approval. Prescribes staffing requirements and administrative operations of the Commission. Transfers to the Commission the duties of the Secretary of Agriculture in the administration of the Commodity Exchange Act. Authorizes the Commission to make such investigations as it may deem necessary to ascertain the facts regarding the operations of boards of trade and other persons subject to this Act. Prescribes a system for handling of complaints of violation of this Act on the part of any person registered under this Act. Prescribes a system of judicial review of the decisions of the Commission in regard to alleged violations of the Commodity Exchange Act. Provides that a contract market, registered futures association established pursuant to this Act, or person registered under this Act who is act…

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

Cosponsors (5)

2 Democrats3 Republicans