H.R. 2292 · 113th Congress
PROTECT Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MarkeySponsorNo cosponsors.
Protection from Rogue Oil Traders Engaging in Computerized Trading Act or PROTECT Act - Amends the Commodities Exchange Act to make it unlawful to engage in an activity that the Commodities Futures Trading Commission (CFTC) has defined as high frequency trading, unless the person has registered with the CFTC as a high frequency trader, and the registration…
What it does: CRS summary · Introduced in House · Jun 6, 2013
Protection from Rogue Oil Traders Engaging in Computerized Trading Act or PROTECT Act - Amends the Commodities Exchange Act to make it unlawful to engage in an activity that the Commodities Futures Trading Commission (CFTC) has defined as high frequency trading, unless the person has registered with the CFTC as a high frequency trader, and the registration has neither expired nor been suspended or revoked.
Prescribes requirements governing high frequency trading.
Requires the fine for a high frequency trading violation to be based on the number of seconds, including fractions of seconds, during which the violation continued.
Authorizes the CFTC to define the scope of any violation for purposes of determining the number involved in any civil case arising under this Act.
Increases the civil penalties for violations of the prohibition against manipulation and false information with respect to swaps and commodities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: PROTECT Act
Also known as: Protection from Rogue Oil Traders Engaging in Computerized Trading Act
Latest action (Jun 25, 2013): Referred to the Subcommittee on General Farm Commodities and Risk Management.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 6, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.