[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1850 Introduced in Senate (IS)]
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118th CONGRESS
1st Session
S. 1850
To amend the Commodity Exchange Act to extend the jurisdiction of the
Commodity Futures Trading Commission to include the oversight of
markets that set or report reference prices for aluminum premiums, and
for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 7, 2023
Ms. Baldwin (for herself and Mr. Cotton) introduced the following bill;
which was read twice and referred to the Committee on Agriculture,
Nutrition, and Forestry
_______________________________________________________________________
A BILL
To amend the Commodity Exchange Act to extend the jurisdiction of the
Commodity Futures Trading Commission to include the oversight of
markets that set or report reference prices for aluminum premiums, 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. SHORT TITLE.
This Act may be cited as the ``Aluminum Pricing Examination Act''
or the ``APEX Act''.
SEC. 2. JURISDICTION OF COMMODITY FUTURES TRADING COMMISSION OVER
MARKETS THAT SET OR REPORT REFERENCE PRICES FOR ALUMINUM
PREMIUMS.
Section 2(a)(1) of the Commodity Exchange Act (7 U.S.C. 2(a)(1)) is
amended by adding at the end the following:
``(J) Reference prices for aluminum premiums.--
``(i) Jurisdiction.--
``(I) In general.--The Commission
shall have jurisdiction over markets
that set or report reference prices for
aluminum premiums, including--
``(aa) oversight of the
process and manner in which
reference prices for aluminum
premiums are set or reported;
and
``(bb) determining whether
the mechanism for setting
reference prices for aluminum
premiums is fair and
transparent.
``(II) Effect.--Nothing in this Act
grants the Commission authority to set
or control prices for aluminum
premiums.
``(ii) Consultation with attorney
general.--
``(I) In general.--The Commission
shall consult with the Attorney General
on any relevant information,
allegations of anticompetitive conduct,
or marketplace analysis in the setting
or reporting of a reference price for
aluminum premiums.
``(II) Review by attorney
general.--The Commission shall afford
the Attorney General an opportunity to
review any regulation or guideline
proposed by the Commission in carrying
out this subparagraph to ensure that
the regulation or guideline is
consistent with the goals and purposes
of the antitrust laws.
``(III) Authorities and duties of
attorney general.--The Attorney
General--
``(aa) may cooperate, and
share relevant information,
with the Commission with
respect to the setting of a
reference price for aluminum
premiums; and
``(bb) shall review any
proposed regulation or
guideline described in
subclause (II) to ensure that
the regulation or guideline is
in accordance with the goals
and purposes of the antitrust
laws.
``(IV) Transmission to
commission.--The Attorney General shall
transmit to the Commission the views of
the Attorney General on any proposed
regulation or guideline described in
subclause (II).''.
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