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HR 3009 110th Congress House Finance and Financial Sector Administrative procedure Commerce Commodity Futures Trading Commission Commodity exchanges Crime and Law Enforcement Derivative securities Energy Fines (Penalties) Foreign Trade and International Finance Futures trading Gas industry Government Operations and Politics Government paperwork Government publicity Independent regulatory commissions Information disclosure (Securities law) Law Natural gas Swaps (Finance)

Market Transparency Reporting of United States Transactions Act of 2007

Introduced: July 12, 2007 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 25, 2008
Executive Comment Requested from Commodity Futures Trading Com.
Apr 25, 2008
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Jul 12, 2007
Referred to the House Committee on Agriculture.
Jul 12, 2007
Introduced in House
 Plain-English summary Congressional Research Service

Market Transparency Reporting of United States Transactions Act of 2007 - Amends the Commodity Exchange Act to define "included natural gas transaction" as a contract, agreement, or transaction in natural gas that is entered into: (1) in reliance on the provisions regarding either excluded swap transactions or the legal certainty for certain transaction in exempt commodities; or (2) by use of a domestic technology or software providing direct access to a foreign board of trade. (Thus places natural gas transactions within the jurisdiction of the Commodity Futures Trading Commission (CFTC).)

Prescribes recordkeeping and disclosure requirements governing natural gas in swap transactions, positions, inventories and commitments otherwise excluded from CFTC jurisdiction ("over-the-counter transactions").

Requires the CFTC to: (1) establish a reporting system regarding large positions in included natural gas transactions; (2) publish on a regular basis the information reported to it regarding such transactions; and (3) promulgate rules or regulations to implement this Act.

Requires the CFTC reporting system to include aggregate reportable positions held by commercial and noncommercial persons.

Increases civil money penalties for violations of this Act. Revises criminal penalties.

What's happening now April 25, 2008

Executive Comment Requested from Commodity Futures Trading Com.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1