3.0.0 5768 2021-06-07T20:02:25Z 2021-06-07T20:02:25Z House H HR 2008-04-10 110 hsag00 Agriculture Committee House Standing hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee Referred to 2008-11-19T23:44:39Z Referred to 2008-04-10T14:05:30Z hsba00 Financial Services Committee House Standing Referred to 2008-04-10T14:05:35Z CFTC Reauthorization Act of 2007 110 4626 HR 2008-04-25 Referred to the Subcommittee on General Farm Commodities and Risk Management. Related bill CRS 2008-11-19 hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee 1 House committee actions Referred to the Subcommittee on General Farm Commodities and Risk Management. Committee 2008-04-10 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 2008-04-10 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 2008-04-10 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 2008-04-10 Sponsor introductory remarks on measure. (CR E580) IntroReferral B00100 9 Library of Congress 2008-04-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2008-04-10 Introduced in House IntroReferral 1000 9 Library of Congress F000372 Rep. Frelinghuysen, Rodney P. [R-NJ-11] RODNEY FRELINGHUYSEN R NJ 11 N J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2008-05-22 False E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2008-06-05 False Finance and Financial Sector Authorization Commodity Futures Trading Commission Crime and Law Enforcement Criminal investigation Economics and Public Finance Fines (Penalties) Foreign Trade and International Finance Foreign exchange Futures trading Government Operations and Politics Government paperwork Governmental investigations Independent regulatory commissions Information disclosure (Securities law) Jurisdiction Law Margins (Security trading) Market manipulation Options (Contract) Prosecution Securities fraud Securities regulation Sentences (Criminal procedure) Finance and Financial Sector 00 2008-04-10 Introduced in House 2008-06-06T20:08:38Z CFTC Improvement Act of 2008 - Amends the Commodity Exchange Act to revise Commodity Futures Trading Commission (CFTC) jurisdiction over certain agreements, contracts, and transactions in retail foreign currency.

Extends coverage to certain future commissions merchants (and affiliated persons) and retail foreign exchange dealers. Requires them to register with the CFTC in order to solicit or accept orders from any person that is not an eligible contract participant in connection with such agreements, contracts, or transactions.

Directs the CFTC to maintain a liaison with the Department of Justice to coordinate civil and criminal investigations and prosecutions of violations of the Act.

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.

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

Authorizes appropriations for the CFTC through FY2013.

Requires 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 the actions to permit: (1) by September 30, 2008, risk-based portfolio margining for security options and security futures products; and (2) by June 30, 2008, the trading of futures on certain security indexes by resolving issues related to foreign security indexes.

Sets forth standards applicable to significant price discover contracts, including: (1) price linkage; (2) arbitrage; (3) core principles applicable to significant price discovery contract; and (4) daily publication of trading information.

Subjects to CFTC (large trader) reporting and recordkeeping requirements any significant price discovery contract traded or executed on an electronic trading facility.

]]> To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission authority over off-exchange retail foreign currency transactions, and for other purposes. Short Titles as Introduced for portions of this bill CFTC Improvement Act of 2008 Display Title To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission authority over off-exchange retail foreign currency transactions, and for other purposes. Official Title as Introduced To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission authority over off-exchange retail foreign currency transactions, and for other purposes. Introduced in House 2008-04-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr5768ih/xml/BILLS-110hr5768ih.xml 2008-11-19 Referred to the Subcommittee on General Farm Commodities and Risk Management. 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.