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HR 2586 112th Congress House Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Commodities markets Commodity Futures Trading Commission Financial services and investments Securities Securities and Exchange Commission (SEC)

Swap Execution Facility Clarification Act

Introduced: July 19, 2011 See on congress.gov
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 Everywhere this bill has been 17 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 8, 2012
Placed on the Union Calendar, Calendar No. 266.
Feb 8, 2012
Reported (Amended) by the Committee on Agriculture. H. Rept. 112-345, Part II.
Feb 1, 2012
House Committee on Agriculture Granted an extension for further consideration ending not later than Feb. 8, 2012.
Jan 25, 2012
Ordered to be Reported (Amended) by Voice Vote.
Jan 25, 2012
Committee Consideration and Mark-up Session Held.
Jan 25, 2012
Subcommittee on General Farm Commodities and Risk Management Discharged.
Dec 23, 2011
House Committee on Agriculture Granted an extension for further consideration ending not later than Feb. 1, 2012.
Dec 23, 2011
Reported (Amended) by the Committee on Financial Services. H. Rept. 112-345, Part I.
Nov 30, 2011
Ordered to be Reported (Amended) by Voice Vote.
Nov 30, 2011
Committee Consideration and Mark-up Session Held.
Nov 15, 2011
Forwarded by Subcommittee to Full Committee by Voice Vote .
Nov 15, 2011
Subcommittee Consideration and Mark-up Session Held.
Oct 14, 2011
Subcommittee Hearings Held.
Aug 22, 2011
Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
Jul 22, 2011
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Jul 19, 2011
Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, 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.
Jul 19, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Swap Execution Facility Clarification Act - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC), in interpreting or defining a "security-based swap execution facility," from requiring it to: (1) have a minimum number of participants receive a bid or offer or respond to any trading system or platform functionality, (2) display or delay bids or offers for any period of time, (3) limit the means of interstate commerce used by market participants to enter into and execute swap transactions on the trading system or platform, or (4) require bids or offers on one trading system or platform operated by the swap execution facility to interact with bids or offers on another trading system or platform operated by that facility.

Amends the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission (SEC), in interpreting or defining a "security-based swap execution facility," from requiring such a facility to do any of the things the CFTC is prohibited by this Act from requiring, with the exception that the SEC may not require such a facility to limit the means of interstate commerce used by market participants to enter into and execute security-based swap transactions on the method of trading functionality.

What's happening now February 8, 2012

Placed on the Union Calendar, Calendar No. 266.

 Committees of jurisdiction 4
 Cosponsors 2
All 2 Democratic 2