3.0.0 4473 2023-01-13T04:49:27Z 2023-01-13T04:49:27Z House H HR 2005-12-08 109 hsag00 Agriculture Committee House Standing hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee Referred to 2005-12-08T20:09:32Z Referred to 2005-12-08T15:02:45Z hsba00 Financial Services Committee House Standing Referred to 2005-12-08T15:02:50Z Commodity Exchange Reauthorization Act of 2005 109 1566 S 2005-07-29 Placed on Senate Legislative Calendar under General Orders. Calendar No. 191. Companion bill Senate Related bill House Text similarities House 2006-01-27 Senate Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 358. Calendars 2005-12-15 Senate Received in the Senate. IntroReferral 2005-12-14 16:18:50 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2005-12-14 16:18:46 On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H11553-11555) Floor H37300 2 House floor actions 2005-12-14 16:18:46 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H11553-11555) Floor 8000 9 Library of Congress 2005-12-14 15:42:19 DEBATE - The House proceeded with forty minutes of debate on H.R. 4473. Floor H8D000 2 House floor actions 2005-12-14 15:42:16 Considered under suspension of the rules. (consideration: CR H11553-11561) Floor H30000 2 House floor actions 2005-12-14 15:42:06 Mr. Goodlatte moved to suspend the rules and pass the bill. Floor H30300 2 House floor actions 2005-12-08 hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee 1 House committee actions Referred to the Subcommittee on Farm Commodities and Risk Management. Committee 2005-12-08 Referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2005-12-08 Referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2005-12-08 Referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2005-12-08 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-12-08 Introduced in House IntroReferral 1000 9 Library of Congress G000289 Rep. Goodlatte, Bob [R-VA-6] ROBERT GOODLATTE R VA W. 6 N 2006-02-03T06:00:00Z H.R. 4473, CFTC Reauthorization Act of 2005 http://www.cbo.gov/publication/17613 <p>Cost estimate for the bill as passed by the House of Representatives on December 14, 2005</p> 2006-02-03T06:00:00Z H.R. 4473, CFTC Reauthorization Act of 2005 https://www.cbo.gov/publication/17613 Cost estimate for the bill as passed by the House of Representatives on December 14, 2005 Finance and Financial Sector Administrative procedure Agriculture and Food Authorization Business records Commerce Commodity Futures Trading Commission Commodity exchanges Contracts Crime and Law Enforcement Derivative securities Economics and Public Finance Energy Energy prices Fines (Penalties) Foreign Trade and International Finance Foreign exchange Fraud Futures trading Government Operations and Politics Government paperwork Independent regulatory commissions Information disclosure (Securities law) Jurisdiction Law Margins (Security trading) Market manipulation Natural gas Options (Contract) Securities and Exchange Commission Securities regulation Finance and Financial Sector 00 2005-12-08 Introduced in House 2006-03-08T00:29:19Z CFTC Reauthorization Act of 2005 - Amends the Commodity Exchange Act to revise Commodities Futures Trading Commission (CFTC) jurisdiction over an agreement, contract, or retail transaction in foreign currency. Extends registration requirements to particular persons participating in the solicitation or recommendation of any such agreement, contract, or transaction.

Revises the prohibition against contracts designed to defraud or mislead. Declares that the requirements of such prohibition do not obligate any person, in connection with a transaction, to disclose to another person in the transaction any nonpublic information that may be material to the market price, rate, or level of the commodity or transaction, except as necessary to make any statement to such other person not misleading in any material respect.

Directs the agencies represented on the President's Working Group on Financial Markets to work to ensure that the Securities and Exchange Commission (SEC) and the CFTC have taken action to permit: (1) risk-based portfolio margining for security options and security futures products by September 30, 2006; and (2) by June 30, 2006, the trading of futures on certain security indexes by resolving issues related to debt security indexes and foreign security indexes.

Authorizes appropriations through FY2010.

Instructs the CFTC to increase transparency of natural gas prices by conducting: (1) surveillance of trading in natural gas contracts; and (2) a review of the factors that caused significant and highly unusual change in the settlement price of any physically delivered natural gas futures contract traded on a contract market or derivatives transaction execution facility.

Directs the CFTC to require any person holding, maintaining, or controlling any position in a contract of sale of natural gas for future delivery, or option on such a contract, at or exceeding reportable limits, to maintain records for five years regarding the position, including any related contract, agreement, or transaction in natural gas to which the person is a party.

Increases: (1) the civil penalty for market manipulation to $1 million, or triple the monetary gain for each such violation; and (2) the criminal penalty for market manipulation from five to ten years imprisonment.

]]> 81 2005-12-14 Passed House without amendment 2006-08-29T16:24:59Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

CFTC Reauthorization Act of 2005 - Title I: General Provisions - (Sec. 101) Amends the Commodity Exchange Act (CEA) to revise Commodities Futures Trading Commission (CFTC) jurisdiction over an agreement, contract, or retail transaction in foreign currency.

Specifies that CFTC jurisdiction extends to any agreement, contract, or transaction in foreign currency that is a commodity contract of sale for future delivery or an option on such a contract, and is offered to, or entered into with a person that is not an eligible contract participant, unless the counterparty, or the person offering to be the counterparty, of the person is: (1) a financial institution; (2) a specified broker, dealer, or associated person registered under the Securities Exchange Act of 1934; (3) a specified futures commission merchant registered under CEA; (4) a specified insurance company or affiliate; (5) a financial holding company; or (6) an investment bank holding company. Extends registration requirements to particular persons participating in the solicitation or recommendation of any such agreement, contract, or transaction.

(Sec. 102) Authorizes CFTC to bring anti-fraud actions in off-exchange principal-to-principal futures transactions. Provides that a person shall not be obligated, in connection with a covered futures transaction with another person, to disclose to such other person nonpublic information that may be material to the market price, rate, or level of such commodity or transaction except as necessary to make any statement not materially misleading.

(Sec. 103) Directs the agencies represented on the President's Working Group on Financial Markets to work to ensure that the Securities and Exchange Commission (SEC) and the CFTC have taken action to permit: (1) risk-based portfolio margining for security options and security futures products by September 30, 2006; and (2) by June 30, 2006, the trading of futures on certain security indexes by resolving issues related to debt security indexes and foreign security indexes.

(Sec. 104) Authorizes appropriations through FY2010.

Title II: Natural Gas Price Transparency - (Sec. 201) Instructs CFTC to increase transparency of natural gas prices by conducting: (1) surveillance of trading in natural gas contracts; and (2) a review of the factors that caused significant and highly unusual change in the settlement price of any physically delivered natural gas futures contract traded on a contract market or derivatives transaction execution facility. Includes among review factors: (1) prices and price relationships in the futures and cash markets; (2) market information and cash market supply and demand factors; (3) large futures and options market positions and transactions on the contract market or derivatives transaction execution facility; and (4) related natural gas contracts, agreements, or transactions.

(Sec. 202) Directs CFTC to require any person holding, maintaining, or controlling any position in a contract of sale of natural gas for future delivery or option on such a contract, at or exceeding reportable limits, to maintain and provide on CFTC request records for five years regarding the position, including any related contract, agreement, or transaction in natural gas to which the person is a party.

(Sec. 203) Increases: (1) the civil penalty for specified commodity market manipulation-related offenses to $1 million, or triple the monetary gain for each such violation; and (2) the criminal penalty for specified commodity trading-related felonies from five to ten years imprisonment.

]]> CFTC Reauthorization Act of 2005 Display Title CFTC Reauthorization Act of 2005 Official Title as Introduced To reauthorize and amend the Commodity Exchange Act to promote legal certainty, enhance competition, and reduce systemic risk in markets for futures and over-the-counter derivatives, and for other purposes. Introduced in House IH Short Titles as Introduced CFTC Reauthorization Act of 2005 Short Titles as Passed House CFTC Reauthorization Act of 2005 H House Popular Titles Commodity Futures Trading Commission bill 9 Library of Congress Placed on Calendar Senate 2006-01-27T05:00:00Z Engrossed in House 2005-12-14T05:00:00Z Introduced in House 2005-12-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr4473ih/xml/BILLS-109hr4473ih.xml 2006-01-27 Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 358. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.