[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 2933 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 2933

  To amend the Commodity Exchange Act to require a review of current 
 exemptions granted to foreign entities in response to an attempt by a 
   foreign authority to exercise direct supervisory authority over a 
              domestic derivatives clearing organization.


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                   IN THE SENATE OF THE UNITED STATES

                           November 21, 2019

Mr. Boozman (for himself and Mr. Durbin) introduced the following bill; 
  which was read twice and referred to the Committee on Agriculture, 
                        Nutrition, and Forestry

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                                 A BILL


 
  To amend the Commodity Exchange Act to require a review of current 
 exemptions granted to foreign entities in response to an attempt by a 
   foreign authority to exercise direct supervisory authority over a 
              domestic derivatives clearing organization.

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

SECTION 1. RESPONSE TO FOREIGN REGULATORY AUTHORITY.

    Section 5b of the Commodity Exchange Act (7 U.S.C. 7a-1) is amended 
by inserting after subsection (i) the following:
    ``(j) Response to Foreign Regulatory Authority.--If a foreign 
authority seeks to assert direct supervisory authority over a 
derivatives clearing organization that is domiciled in the United 
States, the Commission shall review the appropriateness of the 
exemptions granted to foreign entities, including clearinghouses, under 
the jurisdiction of the foreign authority.''.
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