S.Amdt. 4021

SA 4021. Mr. GREGG submitted an amendment intended to be proposed to

[[Page S3734]]

amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself and
Mrs. Lincoln)) to the bill S. 3217, to promote the financial stability
of the United States by improving accountability and transparency in
the financial system, to end ``too big to fail'', to protect the
American taxpayer by ending bailouts, to protect consumers from abusive
financial services practices, and for other purposes; which was ordered
to lie on the table; as follows:

On page 623, line 14, insert ``, including price and
volume,'' after ``transaction''.
On page 623, line 16, insert ``, consistent with joint
rules adopted by the Commission'' after ``executed''.
On page 623, line 18, insert ``and the Securities and
Exchange Commission'' after ``Commission''.
On page 623, line 21, insert ``and the Securities and
Exchange Commission'' after ``Commission''.
On page 623, line 23, strike ``is'' and insert ``and the
Securities and Exchange Commission are''.
On page 623, line 24, strike ``provide by rule'' and insert
``engage in joint rulemaking to jointly adopt rules
providing''.
On page 624, line 1, insert ``, volume,'' after
``transaction''.
On page 624, line 8, insert ``and the Securities and
Exchange Commission'' after ``Commission''.
On page 623, line 15, insert ``and the Securities and
Exchange Commission'' after ``Commission''.
On page 623, line 23, insert ``and the Securities and
Exchange Commission'' after ``Commission''.
On page 624, line 23, strike ``make available to the
public'' and insert ``require real time public reporting for
such transactions''.
On page 625, line 1, strike ``, aggregate data on such swap
trading volumes and positions''.
On page 625, strike lines 3 through 7.
On page 625, line 9, insert ``and the Securities and
Exchange Commission'' after ``Commission''.
On page 625, line 14, strike ``rule'' and insert ``rules''.
On page 625, line 16, strike ``(i) and (ii)'' and insert
``(i) through (iii)''.
On page 625, line 17, strike ``rule'' and insert ``rules''.
On page 625, line 18, insert ``and the Securities and
Exchange Commission'' after ``Commission''.
On page 625, line 20, strike ``identify the participants''
and insert ``disclose the identity of any market participant
or proprietary information about the swap transactions,
positions, or trading strategies of any market participant''.
On page 625, line 22, strike ``large notional''.
On page 625, line 23, strike the ``(block trade)'' and
insert ``block trade''.
On page 626, line 2, strike ``large notional''.
On page 626, line 3, strike the ``(block trades)'' and
insert ``block trades''.
On page 626, lines 5 through 6, strike ``whether the public
disclosure will materially reduce market liquidity'' and
insert ``the effect public disclosure will have on measures
of market quality, including market liquidity and transaction
costs''.
On page 626, line 13, insert ``and the Securities and
Exchange Commission'' after ``Commission''.
On page 626, after line 13 insert the following:
``(G) Financial stability oversight council.--In the event
that the Commission and the Securities and Exchange
Commission fail to jointly prescribe rules pursuant to
subparagraph (C) in a timely manner, at the request of either
the Commission or the Securities and Exchange Commission, the
Financial Stability Oversight Council shall resolve the
dispute--
``(i) within a reasonable time after receiving the request;
``(ii) after consideration of relevant information provided
by the Commission and the Securities and Exchange Commission;
and
``(iii) by agreeing with the Commission or the Securities
and Exchange Commission regarding the entirety of the matter
or by determining a compromise position.''.
On page 800, line 15, insert ``, including price and
volume,'' after ``transaction''.
On page 800, line 18, insert ``, consistent with joint
rules adopted by the Commission'' after ``executed''.
On page 800, line 20, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 800, line 23, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 801, line 1, insert ``and required to engage in
joint rulemaking to jointly adopt rules providing'' after
``Commission''.
On page 801, line 2, strike ``to provide by rule''.
On page 801, line 3, insert ``, volume,'' after
``transaction''.
On page 801, line 10, insert `` pursuant to (a)(10)'' after
``requirements)''.
On page 801, line 10, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 801, line 17, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 801, line 24, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 800, line 25, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 801, line 25, strike ``make available to the
public'' and insert ``require real time public reporting for
such transactions''.
On page 802, line 3, strike ``, aggregate data on such swap
trading volumes and positions''.
On page 802, strike lines 6 through 11.
On page 802, line 13, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 802, line 19, strike ``rule'' and insert ``rules''.
On page 802, line 21, strike ``(i) and (ii)'' and insert
``(i) through (iii)''.
On page 802, line 22, strike ``rule'' and insert ``rules''.
On page 802, line 23, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 802, line 25, strike ``identify the participants''
and insert ``disclose the identity of any market participant
or proprietary information about the security-based swap
transactions, positions, or trading strategies of any market
participant''.
On page 803, line 2, strike ``large notional''.
On page 803, lines 3 and 4, strike the ``(block trade)''
and insert ``block trade''.
On page 803, line 7, strike ``large notional''.
On page 803, line 8 strike the ``(block trades)'' and
insert ``block trades''.
On page 803, lines 10 through 12, strike ``whether the
public disclosure will materially reduce market liquidity''
and insert ``the effect public disclosure will have on
measures of market quality, including market liquidity and
transaction costs''.
On page 803, line 19, insert ``and the Commodity Futures
Trading Commission'' after ``Commission''.
On page 803, between lines 19 and 20, insert the following:
``(G) Financial stability oversight council.--In the event
that the Commission and the Commodity Futures Trading
Commission fail to jointly prescribe rules pursuant to
subparagraph (C) in a timely manner, at the request of either
the Commission or the Commodity Futures Trading Commission,
the Financial Stability Oversight Council shall resolve the
dispute--
``(i) within a reasonable time after receiving the request;
``(ii) after consideration of relevant information provided
by the Commission and the Commodity Futures Trading
Commission; and
``(iii) by agreeing with the Commission or the Commodity
Futures Trading Commission regarding the entirety of the
matter or by determining a compromise position.''.
______