3.0.0 1399 2023-01-11T13:18:16Z 2023-01-11T13:18:16Z Senate S S 2009-07-06 111 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Standing Referred to 2009-07-06T23:12:25Z 2009-07-06 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S7144-7149) IntroReferral 2009-07-06 Sponsor introductory remarks on measure. (CR S7143-7144) IntroReferral B00100 9 Library of Congress 2009-07-06 Introduced in Senate IntroReferral 10000 9 Library of Congress F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA N S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. 2009-07-06 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2009-07-15 False Finance and Financial Sector Air quality Climate change and greenhouse gases Commodities markets Commodity Futures Trading Commission Executive agency funding and structure Finance and Financial Sector 00 2009-07-06 Introduced in Senate 2009-09-09T20:58:47Z Carbon Market Oversight Act of 2009 - Amends the Commodity Exchange Act to establish an Office of Carbon Market Oversight in the Commodity Futures Trading Commission (CFTC), headed by a Director for Carbon Market Oversight. Grants the CFTC authority to regulate all contracts involving a regulated instrument. Defines "regulated instrument" as any regulated allowance (i.e., a greenhouse gas emission allowance or government-issued unit of reduction in the quantity of emissions, or an increase in sequestration, equal to one carbon dioxide equivalent) or regulated allowance derivative (i.e., instruments, contracts, or other obligations linked to the market for regulated allowances).

Makes it unlawful to engage in the trading of regulated instruments unless: (1) transactions are conducted through a carbon allowance trading facility established by this Act; (2) sale or purchase contracts are evidenced by a record in writing; and (3) contracts are cleared through the Carbon Clearing Organization established by this Act.

Prohibits price or market manipulation, misleading statements, or fraud in connection with the trading of regulated instruments.

Authorizes the CFTC to establish a carbon allowance trading facility to establish and enforce rules for trading in regulated instruments. Sets forth eligibility, registration, and educational requirements for market traders, dealers, and brokers in the regulated instrument market.

Requires the CFTC to: (1) establish a Carbon Clearing Organization to create a common clearing platform for regulated instruments; (2) facilitate the dissemination of reliable and accurate last-sale and quotation information for transactions in regulated instruments; and (3) collect and analyze information on the functioning of the markets for regulated instruments.

Grants the CFTC certain administrative powers to enforce this Act, including the power to conduct investigations, review adverse actions by a registered carbon trading facility, suspend or revoke a registered carbon trading facility designation, or issue emergency orders.

Authorizes the CFTC to bring a civil action to prevent or punish violations of this Act.

Imposes criminal penalties on persons who knowingly violate the requirements of this Act or who fail to comply with a cease and desist order.

]]> Carbon Market Oversight Act of 2009 Display Title Carbon Market Oversight Act of 2009 Official Title as Introduced A bill to amend the Commodity Exchange Act to establish a market for the trading of greenhouse gases, and for other purposes. Introduced in Senate IS Short Titles as Introduced Carbon Market Oversight Act of 2009 Introduced in Senate 2009-07-06T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s1399is/xml/BILLS-111s1399is.xml 2009-07-06 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S7144-7149) 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.