[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4333 Introduced in House (IH)]

<DOC>






116th CONGRESS
  1st Session
                                H. R. 4333

 To amend the Commodity Exchange Act to provide certainty for futures 
       customers and market participants, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 13, 2019

Ms. Spanberger introduced the following bill; which was referred to the 
                        Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
 To amend the Commodity Exchange Act to provide certainty for futures 
       customers and market participants, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CERTAINTY FOR FUTURES CUSTOMERS AND MARKET PARTICIPANTS.

    Section 20(a) of the Commodity Exchange Act (7 U.S.C. 24(a)) is 
amended--
            (1) by striking ``and'' at the end of paragraph (4);
            (2) by striking the period at the end of paragraph (5) and 
        inserting ``; and''; and
            (3) by adding at the end the following:
            ``(6) that cash, securities, or other property of the 
        estate of a commodity broker, including the trading or 
        operating accounts of the commodity broker and commodities held 
        in inventory by the commodity broker, shall be included in 
        customer property, subject to any otherwise unavoidable 
        security interest, or otherwise unavoidable contractual offset 
        or netting rights of creditors (including rights set forth in a 
        rule or bylaw of a derivatives clearing organization or a 
        clearing agency) in respect of such property, but only to the 
        extent that the property that is otherwise customer property is 
        insufficient to satisfy the net equity claims of public 
        customers (as such term may be defined by the Commission by 
        rule or regulation) of the commodity broker.''.
                                 <all>