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H.R. 885 · 111th Congress

Improved Financial and Commodity Markets Oversight and Accountability Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 111th Congress ended.

JLD LarsonSponsor
37 cosponsors · 34 D, 3 R
  1. House Introduced Feb 4, 2009
  2. House Passed Jun 8, 2009

Improved Financial and Commodity Markets Oversight and Accountability Act - Amends the Inspector General Act of 1978 to include the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission (CFTC), the National Credit Union Administration (NCUA), the Pension Benefit Guaranty Corporation (PBGC), and the Securities and…

What it does: CRS summary · Reported to Senate with amendment(s) · Mar 16, 2010

Improved Financial and Commodity Markets Oversight and Accountability Act - Amends the Inspector General Act of 1978 to include the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission (CFTC), the National Credit Union Administration (NCUA), the Pension Benefit Guaranty Corporation (PBGC), and the Securities and Exchange Commission (SEC) as establishments the Inspector Generals of which shall be appointed by the President.

Applies existing pay requirements under the Inspector General Reform Act of 2008 to the Inspectors General of such entities. Permits such Inspectors General to select, appoint, and employ such officers and employees as necessary and to obtain services of experts or consultants.

Authorizes such Inspectors General to subpoena records and testimony necessary in the performance of their assigned functions.

Requires the heads of those entities to: (1) take action to address deficiencies identified by their Inspector General; or (2) certify to both Houses of Congress that no action is necessary or appropriate.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Improved Financial and Commodity Markets Oversight and Accountability Act

Latest action (Mar 16, 2010): Placed on Senate Legislative Calendar under General Orders. Calendar No. 320.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Feb 4, 2009

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

  1. House Introduced Feb 4, 2009
  2. House Passed Jun 8, 2009

No recorded floor vote found.