H.R. 3527 · 112th Congress
Protecting Main Street End-Users From Excessive Regulation
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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HultgrenSponsor12 cosponsors · 4 D, 8 R
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Biggert
DB
D
Boren
BD
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Dold
TJ
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Johnson
AK
R
Kinzinger
LL
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Lance
DM
R
Manzullo
AS
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Schock
JB
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Barrow
PK
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King
JM
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Matheson
MR
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Ross8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Protecting Main Street End-Users From Excessive Regulation - (Sec. 2) Amends the Commodity Exchange Act to revise the current exception to the definition of "swap dealer" to state that, in determining whether a person is a "swap dealer," no consideration shall be given to any transaction entered into for the person's own account for the purpose of hedging…
What it does: CRS summary · Reported to House with amendment(s) · Feb 8, 2012
Protecting Main Street End-Users From Excessive Regulation - (Sec. 2) Amends the Commodity Exchange Act to revise the current exception to the definition of "swap dealer" to state that, in determining whether a person is a "swap dealer," no consideration shall be given to any transaction entered into for the person's own account for the purpose of hedging or mitigating commercial risk.
Directs the Commodity Futures Trading Commission (CFTC) to adopt standards distinguishing: (1) the activities of a swap dealer specified in current law, and (2) entering into swaps for a person's own account in order to achieve its own trading objectives as determined by the CFTC.
Directs the CFTC to exempt from designation as a swap dealer an entity that enters into swap dealing transactions with or on behalf of its customers if the aggregate gross notional amount of the outstanding swap dealing transactions entered into over the course of the preceding calendar year does not exceed $3 billion (or a greater amount, as market conditions warrant), adjusted for inflation.
(Sec. 3) States that this Act shall be implemented: (1) without regard to federal law regarding coordination of federal information policy or rulemaking requirements concerning notice and comment, and (2) through promulgation of an interim final rule.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Protecting Main Street End-Users From Excessive Regulation
Latest action (Feb 8, 2012): Placed on the Union Calendar, Calendar No. 270.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 30, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.