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Prevent Unfair Manipulation of Prices Act of 2007

Introduced: January 19, 2007 See on congress.gov

Everywhere this bill has been 4 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 2, 2007

Referred to the Subcommittee on General Farm Commodities and Risk Management.

Jan 19, 2007

Referred to the House Committee on Agriculture.

Jan 19, 2007

Introduced in House

Jan 11, 2007

Sponsor introductory remarks on measure. (CR H399-400)

Plain-English summary Congressional Research Service

Prevent Unfair Manipulation of Prices Act of 2007 - Amends the Commodity Exchange Act to extend its jurisdiction to certain: (1) "included energy transactions" traded on an electronic trading facility; and (2) certain energy commodities involved in over-the-counter transactions.

Sets forth reporting and recordkeeping requirements for: (1) certain contract participants that enter into or execute "included energy transactions;" and (2) electronic trading facilities for energy commodities.

Extends prohibitions against fraudulent transactions to: (1) filling an order by offset against the other person's order; and (2) knowingly and willfully becoming the buyer in respect to another person's selling order, or the seller in respect to another person's buying order, without the other person's prior consent.

Empowers the Commodity Futures Trading Commission to impose civil and criminal penalties for price manipulation and other violations of such Act.

What's happening now February 2, 2007

Referred to the Subcommittee on General Farm Commodities and Risk Management.

Committees of jurisdiction 2