3.0.0 1256 2023-01-11T13:24:55Z 2023-01-11T13:24:55Z House H HR 2013-03-19 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GARRETT:H.R. 1256.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clauses 1 (``The Congress shall havePower To lay and collect Taxes, Duties, Imposts and Excises,to pay the Debts and provide for the common Defense andgeneral Welfare of the United States; but all Duties, Impostsand Excises shall be uniform throughout the United States''),3 (``To regulate Commerce with foreign Nations, and among theseveral States, and with the Indian Tribes''), and 18 (``Tomake all Laws which shall be necessary and proper forcarrying into Execution the foregoing Powers, and all otherPowers vested by this Constitution in the Government of theUnited States, or in any Department or Officer thereof'').[Page H1631]]]> ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Standing Referred to 2013-06-13T20:22:31Z hsag00 Agriculture Committee House Standing Reported by 2013-06-10T19:20:39Z Markup by 2013-03-20T15:08:24Z Referred to 2013-03-19T14:03:40Z hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Hearings by 2013-04-11T20:21:18Z Reported by 2013-06-10T19:20:23Z Markup by 2013-05-07T14:27:07Z Referred to 2013-03-19T14:03:35Z H. Rept. 113-103,Part 1 H. Rept. 113-103,Part 2 Customer Protection and End User Relief Act 113 4413 HR 2014-06-25 Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. Related bill CRS A bill to assist the Secretary of Housing and Urban Development in stabilizing the Home Equity Conversion Mortgage program. 113 469 S 2013-06-18 Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held. With printed Hearing: S.Hrg. 113-61. Related bill CRS Providing for consideration of the bill (H.R. 1960) to authorize appropriations for fiscal year 2014 for military activities of the Department of Defense and for military construction, to prescribe military personnel strengths for such fiscal year, and for other purposes; and providing for consideration of the bill (H.R. 1256) to direct the Securities and Exchange Commission and the Commodity Futures Trading Commission to jointly adopt rules setting forth the application to cross-border swaps transactions of certain provisions relating to swaps that were enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 113 256 HRES 2013-06-12 Motion to reconsider laid on the table Agreed to without objection. 15:11:49 Related bill House Procedurally-related House 2013-06-13 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. IntroReferral 2013-06-12 17:25:20 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2013-06-12 17:25:20 On passage Passed by recorded vote: 301 - 124 (Roll no. 218). (text: CR H3318) Floor H37100 2 House floor actions 218 https://clerk.house.gov/evs/2013/roll218.xml House 113 2013-06-12T21:25:20Z 1 2013-06-12 17:25:20 Passed/agreed to in House: On passage Passed by recorded vote: 301 - 124 (Roll no. 218).(text: CR H3318) Floor 8000 9 Library of Congress 218 https://clerk.house.gov/evs/2013/roll218.xml House 113 2013-06-12T21:25:20Z 1 2013-06-12 17:17:47 On motion to recommit with instructions Failed by the Yeas and Nays: 194 - 230 (Roll no. 217). (consideration: CR H3332) Floor H36110 2 House floor actions hsba00 Financial Services Committee 217 https://clerk.house.gov/evs/2013/roll217.xml House 113 2013-06-12T21:17:47Z 1 2013-06-12 16:43:13 DEBATE - The House proceeded with 10 minutes of debate on the Sean Maloney motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House forthwith with an amendment to require the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to rule that foreign entities are not broadly equivalent to U.S. swaps requirements if they: (1) engage in cyber attacks against the U.S. (including U.S. persons and businesses), do not have or enforce laws to deter cyber attacks, or have ever been the subject of a civil or criminal proceeding for cyber attacks; or (2) are in violation of, do not enforce comparable restrictions to, or have ever been the subject of a civil or criminal proceeding for violating Iran Sanctions. Floor H8D000 2 House floor actions 2013-06-12 16:42:51 Mr. Maloney, Sean moved to recommit with instructions to Financial Services. (consideration: CR H3330-3332; text: CR H3330-3331) Floor H36100 2 House floor actions hsba00 Financial Services Committee 2013-06-12 16:42:29 The previous question was ordered pursuant to the rule. (consideration: CR H3330) Floor H35000 2 House floor actions 2013-06-12 15:30:10 DEBATE - The House proceeded with one hour of debate on H.R. 1256. Floor H8D000 2 House floor actions 2013-06-12 15:28:32 Resolution provides for one hour of general debate on H.R. 1960. Resolution also provides for one hour of general debate on H.R. 1256 under a closed rule. Floor H8D000 2 House floor actions 2013-06-12 15:28:27 Considered under the provisions of rule H. Res. 256. (consideration: CR H3317-3332) Floor H30000 2 House floor actions 2013-06-12 15:11:48 Rule H. Res. 256 passed House. Floor H1L220 2 House floor actions 2013-06-11 19:15:39 Rules Committee Resolution H. Res. 256 Reported to House. Resolution provides for one hour of general debate on H.R. 1960. Resolution also provides for one hour of general debate on H.R. 1256 under a closed rule. Floor H1L210 2 House floor actions 2013-06-10 Placed on the Union Calendar, Calendar No. 72. Calendars H12410 2 House floor actions U00072 2013-06-10 Reported by the Committee on Agriculture. H. Rept. 113-103, Part II. Committee H12200 2 House floor actions hsag00 Agriculture Committee 2013-06-10 Reported by the Committee on Agriculture. H. Rept. 113-103, Part II. Committee 5000 9 Library of Congress hsag00 Agriculture Committee 2013-06-10 Reported (Amended) by the Committee on Financial Services. H. Rept. 113-103, Part I. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2013-06-10 Reported (Amended) by the Committee on Financial Services. H. Rept. 113-103, Part I. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2013-05-07 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 11. Committee 2013-05-07 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2013-04-11 hsba16 Capital Markets Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral. Committee 2013-03-20 hsag00 Agriculture Committee 1 House committee actions Ordered to be Reported by Voice Vote. Committee 2013-03-20 hsag00 Agriculture Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2013-03-19 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 2013-03-19 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 2013-03-19 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-03-19 Introduced in House IntroReferral 1000 9 Library of Congress G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 N C001062 Rep. Conaway, K. Michael [R-TX-11] K. Conaway R TX Michael 11 2013-03-19 True C001083 Rep. Carney, John C., Jr. [D-DE-At Large] John Carney D DE C. 0 2013-03-19 True S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2013-03-19 True Finance and Financial Sector Administrative law and regulatory procedures Commodities markets Commodity Futures Trading Commission Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2013-03-19 Introduced in House 2013-04-09T16:55:22Z Swap Jurisdiction Certainty Act - Directs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to issue rules jointly governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, respectively, in connection with swaps and security-based swaps transacted between U.S. persons and non-U.S. persons.

Requires such rules to address: (1) the nature of the connections to the United States that require a non-U.S. person to register as a swap dealer, major swap participant, security-based swap dealer, or security-based swap participant under each Commission's respective Acts and related regulations; (2) the extent to which U.S. swaps requirements shall apply to the swap and security-based swap activities of non-U.S. persons, U.S. persons, and their branches, agencies, subsidiaries, and affiliates outside the United States; and (3) the circumstances under which a non-U.S. person in compliance with the regulatory requirements of a foreign jurisdiction shall be exempt from U.S. swaps requirements.

Directs the Commissions to exempt from U.S. swaps requirements any non-U.S. person in compliance with the swaps regulatory requirements of a G20 member nation (or other foreign jurisdiction as jointly determined by the Commissions), unless such swaps regulatory requirements are not broadly equivalent to U.S. swaps requirements.

Requires the Commissions to report to Congress if they determine jointly that the regulatory requirements of the G20 member nation or other foreign jurisdiction are not broadly equivalent to U.S. swaps requirements.

]]> 18 2013-06-10 Reported to House amended, Part I 2013-07-23T14:50:49Z Swap Jurisdiction Certainty Act - (Sec. 2) Directs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to issue jointly rules governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, relating to cross-border swaps and security-based swaps transactions involving U.S. persons or non-U.S. persons.

Requires such rules to be identical (except to the extent necessary to accommodate differences in other underlying statutory requirements), and to address: (1) the nature of the connections to the United States that require a non-U.S. person to register as a swap dealer, major swap participant, security-based swap dealer, or security-based swap participant under each Commission's respective Acts and related regulations; (2) the extent to which U.S. swaps requirements shall apply to the swap and security-based swap activities of non-U.S. persons, U.S. persons, and their branches, agencies, subsidiaries, and affiliates outside the United States; and (3) the circumstances under which a non-U.S. person in compliance with the regulatory requirements of a foreign jurisdiction shall be exempt from U.S. swaps requirements.

Directs the Commissions to exempt from U.S. swaps requirements any non-U.S. person in compliance with the swaps regulatory requirements of a country or administrative region having one of the nine largest combined swap and security-based swap markets by notional amount in the calendar year preceding issuance of such rules (unless the Commissions jointly determine that such requirements are not broadly equivalent to U.S. swaps requirements).

Requires the Commissions to report to Congress if they determine jointly that the regulatory requirements of such foreign jurisdictions are not broadly equivalent to U.S. swaps requirements.

]]> 29 2013-06-10 Reported to House without amendment, Part II 2013-07-24T15:02:12Z (This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Swap Jurisdiction Certainty Act - Directs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to issue rules jointly governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, respectively, in connection with swaps and security-based swaps transacted between U.S. persons and non-U.S. persons.

Requires such rules to address: (1) the nature of the connections to the United States that require a non-U.S. person to register as a swap dealer, major swap participant, security-based swap dealer, or security-based swap participant under each Commission's respective Acts and related regulations; (2) the extent to which U.S. swaps requirements shall apply to the swap and security-based swap activities of non-U.S. persons, U.S. persons, and their branches, agencies, subsidiaries, and affiliates outside the United States; and (3) the circumstances under which a non-U.S. person in compliance with the regulatory requirements of a foreign jurisdiction shall be exempt from U.S. swaps requirements.

Directs the Commissions to exempt from U.S. swaps requirements any non-U.S. person in compliance with the swaps regulatory requirements of a G20 member nation (or other foreign jurisdiction as jointly determined by the Commissions), unless such swaps regulatory requirements are not broadly equivalent to U.S. swaps requirements.

Requires the Commissions to report to Congress if they determine jointly that the regulatory requirements of the G20 member nation or other foreign jurisdiction are not broadly equivalent to U.S. swaps requirements.

]]> 36 2013-06-12 Passed House amended 2013-07-24T16:50:49Z (This measure has not been amended since it was reported to the House as amended, Part I, on June 10, 2013. The summary of that version is repeated here.)

Swap Jurisdiction Certainty Act - Directs the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to issue jointly rules governing the application of swaps requirements of the Securities Exchange Act of 1934 and the Commodity Exchange Act, relating to cross-border swaps and security-based swaps transactions involving U.S. persons or non-U.S. persons.

Requires such rules to be identical (except to the extent necessary to accommodate differences in other underlying statutory requirements), and to address: (1) the nature of the connections to the United States that require a non-U.S. person to register as a swap dealer, major swap participant, security-based swap dealer, or security-based swap participant under each Commission's respective Acts and related regulations; (2) the extent to which U.S. swaps requirements shall apply to the swap and security-based swap activities of non-U.S. persons, U.S. persons, and their branches, agencies, subsidiaries, and affiliates outside the United States; and (3) the circumstances under which a non-U.S. person in compliance with the regulatory requirements of a foreign jurisdiction shall be exempt from U.S. swaps requirements.

Directs the Commissions to exempt from U.S. swaps requirements any non-U.S. person in compliance with the swaps regulatory requirements of a country or administrative region having one of the nine largest combined swap and security-based swap markets by notional amount in the calendar year preceding issuance of such rules (unless the Commissions jointly determine that such requirements are not broadly equivalent to U.S. swaps requirements).

Requires the Commissions to report to Congress if they determine jointly that the regulatory requirements of such foreign jurisdictions are not broadly equivalent to U.S. swaps requirements.

]]> Swap Jurisdiction Certainty Act Display Title Swap Jurisdiction Certainty Act Short Titles as Passed House Swap Jurisdiction Certainty Act H House Short Titles as Introduced Swap Jurisdiction Certainty Act Short Titles as Reported to House Swap Jurisdiction Certainty Act H House Official Title as Introduced To direct the Securities and Exchange Commission and the Commodity Futures Trading Commission to jointly adopt rules setting forth the application to cross-border swaps transactions of certain provisions relating to swaps that were enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. 140 113 HAMDT Pursuant to the provisions of H.Res. 256 the amendment printed in House Report 113-104 is considered as adopted. Pursuant to the provisions of H.Res. 256 the amendment printed in House Report 113-104 is considered as adopted. 2022-02-03T05:52:39Z Rules Committee 2013-06-12T04:00:00Z House of Representatives 113 HR House H 1256 Swap Jurisdiction Certainty Act 2023-01-11T13:24:55Z H.Res. 256 https://www.congress.gov/bill/113th-congress/house-resolution/256 House Report 113-104 https://www.congress.gov/congressional-report/113th-congress/house-report/104 2 2013-06-12 House amendment offered Floor 71000 9 Library of Congress Referred in Senate 2013-06-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1256rfs/xml/BILLS-113hr1256rfs.xml Engrossed in House 2013-06-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1256eh/xml/BILLS-113hr1256eh.xml Reported in House 2013-06-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1256rh/xml/BILLS-113hr1256rh.xml Introduced in House 2013-03-19T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1256ih/xml/BILLS-113hr1256ih.xml 2013-06-13 Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. 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.