3.0.0 1650 2023-01-11T13:22:00Z 2023-01-11T13:22:00Z Senate S S 2011-10-04 112 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2011-10-04T19:23:09Z Business Risk Mitigation and Price Stabilization Act of 2012 112 2682 HR 2012-03-28 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 342. Related bill CRS A bill to provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934, and for other purposes. 112 947 S 2011-05-11 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS Cement Sector Regulatory Relief Act of 2011 112 1610 S 2011-09-22 Read twice and referred to the Committee on Environment and Public Works. Related bill CRS 2011-10-04 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2011-10-04 Introduced in Senate IntroReferral 10000 9 Library of Congress C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID N J000291 Sen. Johanns, Mike [R-NE] Mike Johanns R NE 2011-10-04 True S000320 Sen. Shelby, Richard C. [R-AL] Richard Shelby R AL C. 2011-10-04 True V000127 Sen. Vitter, David [R-LA] David Vitter R LA 2011-10-04 True T000461 Sen. Toomey, Patrick [R-PA] Patrick Toomey R PA J. 2011-10-04 True M000934 Sen. Moran, Jerry [R-KS] Jerry Moran R KS 2011-10-04 True K000360 Sen. Kirk, Mark Steven [R-IL] MARK KIRK R IL STEVEN 2011-10-04 True Finance and Financial Sector Administrative law and regulatory procedures Commodities markets Commodity Futures Trading Commission Executive agency funding and structure Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2011-10-04 Introduced in Senate 2012-01-12T17:51:12Z Dodd-Frank Improvement Act of 2011 - Amends the Securities Exchange Act of 1934 to establish the Office of Derivatives within the Securities and Exchange Commission (SEC) to: (1) administer SEC rules governing security-based swaps, (2) coordinate oversight of the market for swaps and security-based swaps with domestic and international regulators, and (3) monitor the swaps and security-based swaps market.

Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to: (1) extend the date of issuance for certain regulations regarding the swaps and security-based swaps market, and (2) set a deadline for the SEC, the Commodity Futures Trading Commission (CFTC), and the prudential regulators to adopt jointly an implementation schedule for the regulation of the over-the-counter-swaps market.

Amends the Commodity Exchange Act, with respect to the registration and regulation of swap dealers and major swap participants, to exempt from specified margin requirements any swaps in which one of the counterparties is not: (1) a swap dealer or a major swap participant; (2) the Federal National Mortgage Association (Fannie Mae) or any affiliate, the Federal Home Loan Mortgage Corporation (Freddie Mac) or any affiliate, or any Federal Home Loan Bank; or (3) a commodity pool predominantly invested in any combination of commodities, commodity swaps, commodity options, or commodity futures.

Exempts from such margin requirements also an investment fund that: (1) has issued non-debt securities to more than five unaffiliated persons, (2) would be an investment company but for specified disqualifications, and (3) is not primarily invested in physical assets directly or through an interest in an affiliate that owns the physical assets.

Exempts also from such requirements swaps entered into before the date on which final rules become effective.

Amends the Securities Exchange Act of 1934 to exempt from the margin requirements for security-based swap dealers and major security-based swap participants any security-based swap in which one of the counterparties is not: (1) a security-based swap dealer or major security-based swap participant; (2) an investment fund that would be an investment company but for specified disqualifications, and is not primarily invested in physical assets directly or through an interest in an affiliate that owns the physical assets; (3) Fannie Mae or an affiliate, Freddie Mac or an affiliate, or a Federal Home Loan Bank; or (4) a commodity pool predominantly invested in any combination of commodities, commodity swaps, commodity options, or commodity futures.

Exempts also from such requirements security-based swaps entered into before the date on which final rules become effective.

Amends Dodd-Frank to state that an agreement, contract, or transaction entered into by a party that is either controlling, controlled by, or under common control with its counterparty (affiliate transaction) shall not be deemed a "swap" or "security-based swap" subject to regulation under such Act.

Requires that such affiliate transactions be reported to either a swap data repository or to the SEC, if there is no swap data repository that would accept such transaction reports.

Requires the CFTC and the SEC to add to a required study on the effects of position limits on trading on exchanges in the United States an analysis of the progress made by members of the Group of 20 and other countries toward implementing derivatives regulatory reform, and on possible and likely effects on United States competitiveness, market liquidity, and financial stability.

Authorizes the two agencies, upon completion of a report to Congress on such study, to issue jointly any rules necessary to prohibit transactions or activities, or classes of transactions or activities conducted outside of the United States, that they find: (1) have no valid business purpose, (2) are structured with the sole purpose of evading the requirements of the Wall Street Transparency and Accountability Act of 2010, and (3) might reasonably be expected to have a serious adverse effect upon the stability of the U.S. financial system.

States that activities conducted outside of the United States between counterparties established under the laws of any jurisdiction outside of the United States shall not be considered to: (1) have a direct and significant connection with activities in, or effect upon, U.S. commerce; (2) constitute a business within U.S. jurisdiction; or (3) constitute evasion of any provision of Dodd-Frank, unless those activities contravene any rules adopted by the CFTC and the SEC.]]>

Dodd-Frank Improvement Act of 2011 Display Title Dodd-Frank Improvement Act of 2011 Official Title as Introduced A bill to provide for the orderly implementation of the provisions of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and for other purposes. Introduced in Senate IS Short Titles as Introduced Dodd-Frank Improvement Act of 2011 Introduced in Senate 2011-10-04T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s1650is/xml/BILLS-112s1650is.xml 2011-10-04 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.