To amend the Commodity Exchange Act to provide certainty for futures customers and market participants, and for other purposes.
Legislative Progress
Introduced
September 13, 2019
Latest Action
September 25, 2019
Primary Sponsor
Abigail Davis SpanbergerDemocratic(VA)
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
68pct
12d open
vs 9,062 other HR bills in the 116th — cohort avg 39d
This bill allows the Commodities and Futures Trading Commission (CFTC) to consider certain property as customer property for purposes of distribution priority in the event of bankruptcy of a commodities broker. Specifically, the CFTC may provide by rule that cash, securities, or other property including trading or operating accounts of the broker and commodities held in inventory by the broker are considered customer property, but only if other customer property is insufficient to satisfy the net equity claims of public customers.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Referred to the House Committee on Agriculture.
Introduced in House
Congress.gov source codes: 1000, Intro-H
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Sources: Congress.gov