S.Amdt. 5149

1. Strikes section 4

   Strikes

   In S. 3268 · Placed on Calendar Senate

   Struck: SEC. 4. AUTHORITY OF COMMODITY FUTURES TRADING COMMISSION WITH RESPECT TO CERTAIN TRADERS.

   Struck: (a) In General.--

   Struck: (1) Restriction of futures trading to contract markets or derivatives transaction execution facilities.--Section 4(b) of the Commodity Exchange Act (7 U.S.C. 6(b)) is amended by inserting after the first sentence the following: "The Commission may adopt rules and regulations requiring the maintenance of books and records by any person that is located within the United States (including the territories and possessions of the United States) or that enters trades directly into the trade matching system of a foreign board of trade from the United States (including the territories and possessions of the United States)." (2) Excessive speculation as a burden on interstate commerce.--Section 4a of the Commodity Exchange Act (7 U.S.C. 6a) is amended--

   Struck: (A) in subsection (e), in the second sentence--

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   Struck: (i) by striking "this Act for any person" and inserting "this Act for (1) any person"; and

   Struck: (ii) by inserting after "to section 5c(c)(1)" the following: ", and (2) any person that is located within the United States (including the territories and possessions of the United States) or that enters trades directly into the trade matching system of a foreign board of trade from the United States (including the territories and possessions of the United States) to violate any bylaw, rule, regulation, or resolution of any foreign board of trade or foreign futures authority fixing limits on the amount of trading that may be carried out or positions that may be held under any contract of sale of an energy commodity for future delivery or under any option on such contract or energy commodity, that settles against any price (including the daily or final settlement price) of 1 or more contracts listed for trading on a registered entity"; and

   Struck: (B) by adding at the end the following:

   Struck: "(f) Consultation.--Before taking any action under subsection (e), the Commission shall consult with the appropriate--

   Struck: "(1) foreign board of trade; and

   Struck: "(2) foreign futures authority.".

   Struck: (3) Violations.--Section 9(a) of the Commodity Exchange Act (7 U.S.C. 13(a)) is amended by inserting "(including any person trading on a foreign board of trade)" after "Any person" each place it appears.

   Struck: (4) Effect.--No amendment made by this subsection limits any of the otherwise applicable authorities of the Commodity Futures Trading Commission.

   Original wording

   Strike section 4.

Read automatically from the Congressional Record. Check the original before relying on it.

As printed