Summary of Amendments Submitted to the Rules Committee for H.R. 238 - Commodity End-User Relief Act

Summaries Derived from Information Provided by Sponsors

Listed in Alphabetical Order

Jan 10, 2017 3:05 PM

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Aderholt (AL)

#2

REVISED Amends the Commodity Exchange Act to give the Commodity Futures Trading Commission authority to designate other agencies to manage its leases.

Conaway (TX)

#5

Makes clear Congress’s intent that the Commission may impose and implement position limits as it finds necessary, provided the Commission makes a finding prior to imposing such limits. It makes no changes to the longstanding federal position limits regime for the enumerated agricultural commodities or the existing statutory requirements that Designated Contract Markets impose position limits or accountability levels on all contracts.

Conaway (TX)

#6

Makes technical and conforming changes.

Conaway (TX)

#9

LATE Fixes the rate of compensation for employees of the Commodity Futures Trading Commission as the rate set by the Commission and exempts compensation from any collective bargaining agreement, similar to all other financial regulators.

Duffy (WI), Scott, David (GA)

#8

Prohibits the CFTC from compelling the production of algorithmic trading source code and similar intellectual property unless it has issued a subpoena.

Hartzler (MO)

#3

REVISED Delays implementation of the CFTC Ownership and Control Reports Rule until the Chairman determines the rule has been amended by adjusting reporting trading volume levels to 300 contracts per day, removing the requirements for natural person controller data, and ensuring the rule does not require entities to violate foreign privacy laws.

LaMalfa (CA)

#1

Prevents a situation in which an end-user loses its ability to rely on the end-user exception to the clearing requirement due simply to the positive performance of transactions entered into solely to mitigate the prospect of falling revenues and asset values.

Lucas (OK)

#7

Exempts all inter-affiliate transactions from being regulated as “swaps” under the Dodd-Frank related provisions of the Commodity Exchange Act (“CEA”) and Commodity Futures Trading Commission (“CFTC”) regulations promulgated thereunder.

Scott, Austin (GA)

#4

Reforms the Customer Protection Fund at the CFTC to amend the size of the fund, annual expenditures from the fund and return excess balance to the Treasury.