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HR 2448 111th Congress House Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Advisory bodies Commodities markets Commodity Futures Trading Commission Contracts and agency Energy prices Executive agency funding and structure Federal officials Financial services and investments Government information and archives Judicial review and appeals Oil and gas Securities User charges and fees

Prevent Unfair Manipulation of Prices Act of 2009

Introduced: May 14, 2009 See on congress.gov
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 Everywhere this bill has been 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 22, 2010
Referred to the Subcommittee on General Farm Commodities and Risk Management.
May 15, 2009
Referred to the Subcommittee on Energy and Environment.
May 14, 2009
Referred to House Financial Services
May 14, 2009
Referred to House Energy and Commerce
May 14, 2009
Referred to the Committee on Agriculture, and in addition to the Committees on Energy and Commerce, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 14, 2009
Referred to House Agriculture
May 14, 2009
Introduced in House
 Plain-English summary Congressional Research Service

Prevent Unfair Manipulation of Prices Act of 2009 - Amends the Commodity Exchange Act to cover: (1) energy transactions; and (2) coal, crude oil, gasoline, electricity (except financial transmission rights subject to the Federal Energy Regulatory Commission [FERC]), natural gas, and any substance used as a source of energy (other than an excluded commodity, a metal, or an agricultural commodity).

Extends the regulatory authority of the Commodities Futures Trading Commission (CFTC) to swap transactions in: (1) energy commodities; (2) energy transactions; and (3) energy transactions on foreign boards of trade.

Prohibits the CFTC from exempting energy transactions from futures trading regulation, unless certain notice and public comment requirements are observed.

Requires the CFTC to fix limits upon the aggregate number of energy transaction positions held by any person for each month across all markets subject to its jurisdiction.

Grants the CFTC exclusive authority to grant exemptions from position limits imposed upon energy transactions for bona fide hedging transactions and positions.

Requires the CFTC to disaggregate and publicize specified market data with respect to index traders and swap dealers and the identity of holders of positions in indexes in excess of position limits.

Empowers the CFTC to set limits to prevent excessive speculation in indexes.

Amends the Inspector General Act of 1978 with respect to the CFTC Inspector General.

Excludes from CFTC jurisdiction certain derivative transactions, swap transactions, and transactions in exempt commodities which settle and clear through a derivatives clearing organization registered with the CFTC. Prescribes requirements for alternatives to clearing through designated clearing organizations.

Specifies requirements for eligibility to purchase credit default swaps.

Requires the CFTC to charge and collect transaction fees from clearing organizations.

Amends the Natural Gas Act and the Natural Gas Policy Act of 1978 to: (1) grant the Federal Power Commission (FPC) and FERC cease and desist authority regarding violations; and (2) instruct the FPC to establish a refund effective date for an initiated proceeding.

Grants the CFTC oversight authority over carbon derivatives markets.

What's happening now June 22, 2010

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

 Committees of jurisdiction 5
 Cosponsors 4
All 4 Democratic 4