3.0.0 3283 2023-01-11T13:22:02Z 2023-01-11T13:22:02Z House H HR 2011-10-31 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HIMES:H.R. 3283.Congress has the power to enact this legislation pursuantto the following:Article I, Sec. 8, clause 3 of the U.S. Constitution (theCommerce Clause)[Page H7165]]]> hsag00 Agriculture Committee House Standing hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee Referred to 2011-11-08T15:15:58Z Discharged from 2012-12-14T17:20:25Z Referred to 2011-10-31T17:00:15Z hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Hearings by 2012-02-08T16:22:22Z Referred to 2012-01-12T19:45:52Z Reported by 2012-05-11T15:25:04Z Markup by 2012-03-27T13:30:14Z Referred to 2011-10-31T17:00:10Z H. Rept. 112-477 2012-12-14 Placed on the Union Calendar, Calendar No. 512. Calendars H12410 2 House floor actions U00512 2012-12-14 Committee on Agriculture discharged. Discharge H12300 2 House floor actions hsag00 Agriculture Committee 2012-12-14 Committee on Agriculture discharged. Committee 5500 9 Library of Congress hsag00 Agriculture Committee 2012-11-30 House Committee on Agriculture Granted an extension for further consideration ending not later than Dec. 14, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-09-21 House Committee on Agriculture Granted an extension for further consideration ending not later than Nov. 30, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-07-16 House Committee on Agriculture Granted an extension for further consideration ending not later than Sept. 21, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-05-30 House Committee on Agriculture Granted an extension for further consideration ending not later than July 16, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-05-11 House Committee on Agriculture Granted an extension for further consideration ending not later than May 30, 2012. IntroReferral H11210 2 House floor actions hsag00 Agriculture Committee 2012-05-11 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-477, Part I. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2012-05-11 Reported (Amended) by the Committee on Financial Services. H. Rept. 112-477, Part I. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2012-03-27 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 18. Committee 2012-03-27 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2012-02-08 hsba16 Capital Markets Subcommittee 1 House committee actions Subcommittee Hearings Held. Committee 2012-01-12 hsba16 Capital Markets Subcommittee 1 House committee actions Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises. Committee 2011-11-08 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 2011-10-31 Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, 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 2011-10-31 Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, 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 2011-10-31 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-10-31 Introduced in House IntroReferral 1000 9 Library of Congress H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 N G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2011-10-31 True M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2011-11-03 False M000309 Rep. McCarthy, Carolyn [D-NY-4] CAROLYN MCCARTHY D NY 4 2012-01-13 False D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2012-02-02 False R000487 Rep. Royce, Edward R. [R-CA-40] ED ROYCE R CA 40 2012-02-08 False S001183 Rep. Schweikert, David [R-AZ-5] David Schweikert R AZ 5 2012-02-13 False H001054 Rep. Hayworth, Nan A. S. [R-NY-19] Nan Hayworth R NY A. S. 19 2012-02-17 False H000636 Rep. Hinojosa, Ruben [D-TX-15] RUBEN HINOJOSA D TX 15 2012-03-01 False C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2012-03-06 False S001185 Rep. Sewell, Terri A. [D-AL-7] Terri Sewell D AL A. 7 2012-03-08 False S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2012-03-21 False M001137 Rep. Meeks, Gregory W. [D-NY-6] GREGORY MEEKS D NY W. 6 2012-03-22 False C001083 Rep. Carney, John C., Jr. [D-DE-At Large] John Carney D DE C. 0 2012-03-22 False B001234 Rep. Baca, Joe [D-CA-43] JOE BACA D CA 43 2012-03-27 False K000220 Rep. Kingston, Jack [R-GA-1] JACK KINGSTON R GA 1 2012-04-27 False Finance and Financial Sector Banking and financial institutions regulation Commodities markets Financial services and investments Government information and archives Securities U.S. and foreign investments Finance and Financial Sector 00 2011-10-31 Introduced in House 2012-10-11T20:23:15Z Swap Jurisdiction Certainty Act - Amends the Commodity Exchange Act and the Securities Exchange Act of 1934 regarding extra-territorial swap or security-based swap transactions between: (1) a registered swap or security-based swap dealer who is either a U.S. person or a person whose parent company is a U.S. person; and (2) a person who is a U.S. or non-U.S. subsidiary, branch, or affiliate of such swap dealer, or any other non-U.S. person not registered as a swap dealer.

Exempts swaps, including security-based swaps, from regulation under the Wall Street Transparency and Accountability Act of 2010 (WSTAA) (title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act) as long as the swap dealer: (1) is either a U.S. person or a person whose parent company is a U.S. person; and (2) reports such swap or security-based swap to a swap data repository registered with the Commodity Futures Trading Commission (CFTC) or a security-based swap data repository registered with the Securities and Exchange Commission (SEC), as appropriate.

Subjects to WSTAA requirements any non-U.S. person that is a registered swaps or security-based swaps dealer but only for swaps or security-based swaps entered into with a U.S. person who is not a U.S. subsidiary, branch, or affiliate of that non-U.S. person.

Requires the CFTC and the SEC to permit non-U.S. persons that are registered swaps or security-based swaps dealers to comply with WSTAA capital requirements by complying with comparable requirements established by the appropriate governmental authorities in their respective home countries, so long as those home countries are signatories to the Basel Accords.

]]> 18 2012-05-11 Reported to House amended, Part I 2012-10-11T20:28:52Z Swap Jurisdiction Certainty Act - (Sec. 2) Amends the Commodity Exchange Act regarding extra-territorial swap transactions between: (1) a registered swap dealer who is either a U.S. person or a person whose parent company is a U.S. person; and (2) a person who is a U.S. or non-U.S. subsidiary, branch, or affiliate of such swap dealer, or any other non-U.S. person not registered as a swap dealer.

Exempts swaps from regulation under the Wall Street Transparency and Accountability Act of 2010 (WSTAA) (title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act) as long as the swap dealer: (1) is either a U.S. person or a person whose parent company is a U.S. person, and (2) reports such swap to a swap data repository registered with the Commodity Futures Trading Commission (CFTC).

Subjects to WSTAA requirements any non-U.S. person that is a registered swaps dealer but only for swaps entered into with a U.S. person who is not a U.S. subsidiary, branch, or affiliate of that non-U.S. person.

Requires the CFTC to permit non-U.S. persons that are registered swaps dealers to comply with WSTAA capital requirements by complying with comparable requirements established by the appropriate governmental authorities in their respective home countries, so long as those home countries are signatories to the Basel Accords.

Subjects each registered swap dealer to any rules or regulations as the CFTC may prescribe or promulgate as are necessary or appropriate to prevent the evasion of any provision of the Commodity Exchange Act enacted by WSTAA.

(Sec. 3) Amends the Securities Exchange Act of 1934 regarding extra-territorial securities-based swap transactions between: (1) a registered securities-based swap dealer who is either a U.S. person or a person whose parent company is a U.S. person; and (2) a person who is a U.S. or non-U.S. subsidiary, branch, or affiliate of such securities-based swap dealer.

Exempts security-based swaps from regulation under WSTAA as long as the securities-based swap dealer: (1) is either a U.S. person or a person whose parent company is a U.S. person, and (2) reports such security-based swap to a securities-based swap data repository registered with a security-based swap data repository registered with the Securities and Exchange Commission (SEC).

Subjects to WSTAA requirements any non-U.S. person that is a registered security-based swaps dealer but only for security-based swaps entered into with a U.S. person who is not a U.S. subsidiary, branch, or affiliate of that non-U.S. person.

Requires the SEC to permit non-U.S. persons that are registered security-based swaps dealers to comply with WSTAA capital requirements by complying with comparable requirements established by the appropriate governmental authorities in their respective home countries, so long as those home countries are signatories to the Basel Accords.

Prohibits registered security-based swap dealers from conducting any activities designed to evade any provision of the Securities Exchange Act of 1934 enacted by WSTAA.

Declares that nothing in this section shall: (1) exempt a transaction from specified restrictions on member bank transactions with affiliates under the Federal Reserve Act or implementing regulations; or (2) affect the authorities of the prudential regulators over certain kinds of swap dealers, major swap participants, security-based swap dealers, or major security-based swap participants under the Commodity Excgange Act as such authorites are established in law other than under WSTAA

]]> Swap Jurisdiction Certainty Act Display Title Swap Jurisdiction Certainty Act Official Title as Introduced To amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to provide an exemption for certain swaps and security-based swaps involving Non-U.S. persons, and for other purposes. Introduced in House IH Short Titles as Introduced Swap Jurisdiction Certainty Act Short Titles as Reported to House Swap Jurisdiction Certainty Act H House Reported in House 2012-12-14T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr3283rh/xml/BILLS-112hr3283rh.xml Introduced in House 2011-10-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr3283ih/xml/BILLS-112hr3283ih.xml 2012-12-14 Placed on the Union Calendar, Calendar No. 512. 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.