S. 1412 · 111th Congress
Commodity Speculation Reform Act of 2009
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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.
R
CollinsSponsorNo cosponsors.
Commodity Speculation Reform Act of 2009 - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC) from issuing a no action letter to any foreign board of trade that lists a contract whose price settles on the price of a contract traded on a CFTC-regulated exchange, unless the foreign board provides the CFTC with…
What it does: CRS summary · Introduced in Senate · Jul 8, 2009
Commodity Speculation Reform Act of 2009 - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC) from issuing a no action letter to any foreign board of trade that lists a contract whose price settles on the price of a contract traded on a CFTC-regulated exchange, unless the foreign board provides the CFTC with information and data accessibility comparable to those provided the CFTC by entities under its jurisdiction.
Directs the CFTC to promulgate regulations to establish and enforce speculative position limits for qualifying commodities, a methodology for aggregating specified positions, and information reporting rules to facilitate monitoring and enforcement of speculative position limits and over-the-counter commodity derivatives.
Prohibits a person from holding or controlling a position, separately or in combination, net long or net short, for the purchase or sale of a commodity for future delivery or, on a futures-equivalent basis, any option, or an over-the-counter commodity derivative that exceeds CFTC speculative position limits.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Commodity Speculation Reform Act of 2009
Latest action (Jul 8, 2009): Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 8, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.