S. 1399 · 111th Congress
Carbon Market Oversight Act of 2009
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
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
FeinsteinSponsor2 cosponsors · 1 D, 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Carbon Market Oversight Act of 2009 - Amends the Commodity Exchange Act to establish an Office of Carbon Market Oversight in the Commodity Futures Trading Commission (CFTC), headed by a Director for Carbon Market Oversight. Grants the CFTC authority to regulate all contracts involving a regulated instrument.
What it does: CRS summary · Introduced in Senate · Jul 6, 2009
Carbon Market Oversight Act of 2009 - Amends the Commodity Exchange Act to establish an Office of Carbon Market Oversight in the Commodity Futures Trading Commission (CFTC), headed by a Director for Carbon Market Oversight. Grants the CFTC authority to regulate all contracts involving a regulated instrument. Defines "regulated instrument" as any regulated allowance (i.e., a greenhouse gas emission allowance or government-issued unit of reduction in the quantity of emissions, or an increase in sequestration, equal to one carbon dioxide equivalent) or regulated allowance derivative (i.e., instruments, contracts, or other obligations linked to the market for regulated allowances).
Makes it unlawful to engage in the trading of regulated instruments unless: (1) transactions are conducted through a carbon allowance trading facility established by this Act; (2) sale or purchase contracts are evidenced by a record in writing; and (3) contracts are cleared through the Carbon Clearing Organization established by this Act.
Prohibits price or market manipulation, misleading statements, or fraud in connection with the trading of regulated instruments.
Authorizes the CFTC to establish a carbon allowance trading facility to establish and enforce rules for trading in regulated instruments. Sets forth eligibility, registration, and educational requirements for market traders, dealers, and brokers in the regulated instrument market.
Requires the CFTC to: (1) establish a Carbon Clearing Organization to create a common clearing platform for regulated instruments; (2) facilitate the dissemination of reliable and accurate last-sale and quotation information for transactions in regulated instruments; and (3) collect and analyze information on the functioning of the markets for regulated instruments.
Grants the CFTC certain administrative powers to enforce this Act, including the power to conduct investigations, review adverse actions by a registered carbon trading facility, suspend or revoke a registered carbon trading facility designation, or issue emergency orders.
Authorizes the CFTC to bring a civil action to prevent or punish violations of this Act.
Imposes criminal penalties on persons who knowingly violate the requirements of this Act or who fail to comply with a cease and desist order.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Carbon Market Oversight Act of 2009
Latest action (Jul 6, 2009): Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S7144-7149)
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 6, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.