H.R. 3009 · 110th Congress
Market Transparency Reporting of United States Transactions Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BarrowSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Market Transparency Reporting of United States Transactions Act of 2007 - Amends the Commodity Exchange Act to define "included natural gas transaction" as a contract, agreement, or transaction in natural gas that is entered into: (1) in reliance on the provisions regarding either excluded swap transactions or the legal certainty for certain transaction in…
What it does: CRS summary · Introduced in House · Jul 12, 2007
Market Transparency Reporting of United States Transactions Act of 2007 - Amends the Commodity Exchange Act to define "included natural gas transaction" as a contract, agreement, or transaction in natural gas that is entered into: (1) in reliance on the provisions regarding either excluded swap transactions or the legal certainty for certain transaction in exempt commodities; or (2) by use of a domestic technology or software providing direct access to a foreign board of trade. (Thus places natural gas transactions within the jurisdiction of the Commodity Futures Trading Commission (CFTC).)
Prescribes recordkeeping and disclosure requirements governing natural gas in swap transactions, positions, inventories and commitments otherwise excluded from CFTC jurisdiction ("over-the-counter transactions").
Requires the CFTC to: (1) establish a reporting system regarding large positions in included natural gas transactions; (2) publish on a regular basis the information reported to it regarding such transactions; and (3) promulgate rules or regulations to implement this Act.
Requires the CFTC reporting system to include aggregate reportable positions held by commercial and noncommercial persons.
Increases civil money penalties for violations of this Act. Revises criminal penalties.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Market Transparency Reporting of United States Transactions Act of 2007
Latest action (Apr 25, 2008): Executive Comment Requested from Commodity Futures Trading Com.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 12, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.