S. 1354 · 111th Congress
Improved Financial and Commodity Markets Oversight and Accountability Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MenendezSponsorNo cosponsors.
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 · Introduced in Senate · Jun 25, 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 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 (Jun 25, 2009): Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jun 25, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.