S.Amdt. 4022

SA 4022. Mr. GREGG submitted an amendment intended to be proposed to
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 558, strike line 8 and all that follows through
page 559, line 14, and insert the following:
(d) Exemptions.--Section 4(c) of the Commodity Exchange Act
(7 U.S.C. 6(c)) is amended by adding at the end the
following:
``(6) The Commission, by rule, regulation, or order may
conditionally or unconditionally exempt any person, swap, or
transaction, or any class or classes of persons, swaps, or
transactions, from any provision of this Act that was added
by an amendment in the Wall Street Transparency and
Accountability Act of 2010, to the extent that such exemption
is necessary or appropriate in the public interest, and is
not inconsistent with the purposes of such Act.''.

On page 892, strike line 23 and all that follows through
page 893, line 2, and insert the following:
``(c) Derivatives.--The Commission, by rule, regulation, or
order may conditionally or unconditionally exempt any person,
security-based swap, or transaction, or any class or classes
of persons, security-based swaps, or transactions, from any
provision of this Act that was added by an amendment in the
Wall Street Transparency and Accountability Act of 2010, to
the extent that such exemption is necessary or appropriate in
the public interest, and is not inconsistent with the
purposes of such Act.''.
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