3.0.0 4066 2023-01-11T20:16:42Z 2023-01-11T20:16:42Z House H HR 2007-11-01 110 hsag00 Agriculture Committee House Standing Referred to 2007-11-01T14:02:10Z Close the Enron Loophole Act 110 2058 S 2007-09-17 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S11597-11600) Related bill CRS 2007-11-01 Referred to the House Committee on Agriculture. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2007-11-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-11-01 Introduced in House IntroReferral 1000 9 Library of Congress W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT N A000210 Rep. Andrews, Robert E. [D-NJ-1] ROBERT ANDREWS D NJ E. 1 2007-11-01 True M000312 Rep. McGovern, James P. [D-MA-3] JAMES MCGOVERN D MA P. 3 2007-12-04 False M000309 Rep. McCarthy, Carolyn [D-NY-4] CAROLYN MCCARTHY D NY 4 2007-12-04 False L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2007-12-04 False A000357 Rep. Allen, Thomas H. [D-ME-1] THOMAS ALLEN D ME H. 1 2007-12-04 False M001149 Rep. Michaud, Michael H. [D-ME-2] Michael Michaud D ME H. 2 2007-12-04 False H000627 Rep. Hinchey, Maurice D. [D-NY-22] MAURICE HINCHEY D NY D. 22 2008-01-28 False H001039 Rep. Hall, John J. [D-NY-19] John Hall D NY J. 19 2008-01-28 False P000096 Rep. Pascrell, Bill, Jr. [D-NJ-8] WILLIAM PASCRELL D NJ J. 8 2008-01-28 False R000462 Rep. Rothman, Steven R. [D-NJ-9] STEVEN ROTHMAN D NJ R. 9 2008-01-28 False S001171 Rep. Shuler, Heath [D-NC-11] Heath Shuler D NC 11 2008-03-14 False G000551 Rep. Grijalva, Raúl M. [D-AZ-7] Raúl Grijalva D AZ M. 7 2008-03-14 False S001144 Rep. Shays, Christopher [R-CT-4] CHRISTOPHER SHAYS R CT 4 2008-06-19 False F000449 Rep. Fortenberry, Jeff [R-NE-1] Jeff Fortenberry R NE 1 2008-06-24 False P000585 Rep. Platts, Todd Russell [R-PA-19] TODD PLATTS R PA RUSSELL 19 2008-06-24 False Finance and Financial Sector Administrative procedure Commodity Futures Trading Commission Commodity exchanges Electric power Energy Energy prices Fraud Futures trading Gasoline Government Operations and Politics Government paperwork Heating Independent regulatory commissions Information disclosure (Securities law) Law Methane Natural gas Petroleum Propane Finance and Financial Sector 00 2007-11-01 Introduced in House 2008-01-29T22:53:02Z Close the Enron Loophole Act - Amends the Commodity Exchange Act to provide that it applies to an agreement, contract, or transaction in an exempt commodity that is executed or traded on an electronic trading facility that is an energy trading center.

Prohibits any person from entering into an agreement, contract, or transaction for future delivery of an energy commodity that is not a spot sale of cash commodity or a sale of a cash commodity for deferred shipment or delivery on or through an energy trading facility that is not registered as such with the U.S. Commodity Futures Trading Commission (CFTC). Sets forth registration criteria.

Requires CFTC to ensure that the position limits and accountability levels applicable to contracts in an energy commodity listed for trading on a designated contract market and similar contracts in the same energy commodity listed for trading on an energy trading facility: (1) prevent price manipulation, excessive speculation, price distortion, and disruption of the delivery or cash-settlement process; and (2) are on a parity with each other and are applied in a functionally equivalent manner.

Requires CFTC to take necessary action to direct an energy trading facility or a designated contract market to require a person who has exceeded an applicable position limit or accountability level in an energy commodity to limit, reduce, or liquidate any position to prevent or reduce the threat of price manipulation, excessive speculation, price distortion, or disruption of the delivery or cash-settlement process.

Sets forth provisions concerning the provision of information and records about energy trading contracts to CFTC.

Revises provisions concerning the prohibition on energy contracts designed to defraud or mislead, including by prohibiting any person from cheating or defrauding another person in connection with any contract of sale of any commodity in interstate commerce or for future delivery that is made subject to the rules of a designated contract market for or on behalf of any such person (currently the provisions prohibit members of registered entities, correspondent agents, or employees of members from such actions.)

Requires CFTC to issue a rule regarding the requirements for an application for registration for an energy trading facility.

]]> Close the Enron Loophole Act Official Title as Introduced To amend the Commodity Exchange Act to close the Enron loophole, prevent price manipulation and excessive speculation in the trading of energy commodities, and for other purposes. Introduced in House IH Display Title Close the Enron Loophole Act Short Titles as Introduced Close the Enron Loophole Act Introduced in House 2007-11-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr4066ih/xml/BILLS-110hr4066ih.xml 2007-11-01 Referred to the House Committee on Agriculture. 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.