S. 1560 · 114th Congress
A bill to amend the Commodity Exchange Act to provide end-users with a reasonable amount of time to meet…
Full title
A bill to amend the Commodity Exchange Act to provide end-users with a reasonable amount of time to meet their margin requirements and to repeal certain indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities.
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 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RobertsSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Commodity Exchange Act to declare that any rules or regulations requiring a futures commission merchant (FCM) to maintain a residual interest in accounts held for the benefit of customers in amounts at least sufficient to exceed the sum of all the customers' uncollected margin deficits shall require an FCM to meet its residual interest…
What it does: CRS summary · Introduced in Senate · Jun 11, 2015
This bill amends the Commodity Exchange Act to declare that any rules or regulations requiring a futures commission merchant (FCM) to maintain a residual interest in accounts held for the benefit of customers in amounts at least sufficient to exceed the sum of all the customers' uncollected margin deficits shall require an FCM to meet its residual interest requirement as of the end of each business day calculated as of the close of business on the previous business day.
The bill repeals the prerequisite to sharing by Commodity Futures Trading Commission (CFTC) with a specified entity of information on swaps cleared by derivatives clearing organizations that the entity agree to indemnify the CFTC for any expenses arising from litigation relating to that information.
The bill also:
- repeals a similar prerequisite for information-sharing by a swap data repository, and
- makes a similar and conforming amendment to the Securities Exchange Act of 1934 with respect to a securities-based swap data repository.
States that this Act takes effect as if enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Commodity Exchange Act to provide end-users with a reasonable amount of time to meet their margin requirements and to repeal certain indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities.
Latest action (Jun 11, 2015): Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jun 11, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.