Markets and Trading Reorganization and Reform Act
TABLE OF CONTENTS:
Title I: Establishment of Commission
Title II: Transfers of Functions
Title III: Federal Financial Markets Coordinating Council
Title IV: Administrative Provisions
Title V: Transitional, Savings, and Conforming Provisions
Title VI: Effective Date
Markets and Trading Reorganization and Reform Act - Title: Establishment of Commission - Establishes the Markets and Trading Commission (the Commission) as an independent regulatory body.
Title II: Transfers of Functions - Transfers to the Commission: (1) all functions of the Commodity Futures Trading Commission and of the Securities and Exchange Commission; and (2) the margin authority of the Board of Governors of the Federal Reserve System. Empowers the Commission to adjust and prescribe margin levels with respect to futures contracts.
Title III: Federal Financial Markets Coordinating Council - Establishes the Federal Financial Markets Coordinating Council to: (1) coordinate the regulatory operations of the Federal regulatory agencies represented on the Council; and (2) establish an advisory committee composed of representatives of the futures, commodities, options, securities exchanges, and the banking industry; and (3) present biennial status reports to the Congress.
Title IV: Administrative Provisions - Sets forth guidelines for Commission personnel and administration.
Title V: Transitional, Savings, and Conforming Provisions - Prescribes procedural guidelines for the transfer and allocation of appropriations and personnel.
Title VI: Effective Date - Sets forth the effective date of this Act.
Subcommittee Hearings Held.