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HR 2292 113th Congress House Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Business records Civil actions and liability Commodities markets Commodity Futures Trading Commission Computers and information technology Fraud offenses and financial crimes Licensing and registrations Securities Technology assessment

PROTECT Act

Introduced: June 6, 2013 Introduced by: Markey, Edward J. Democratic · Massachusetts 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
Jun 25, 2013
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Jun 6, 2013
Referred to the House Committee on Agriculture.
Jun 6, 2013
Sponsor introductory remarks on measure. (CR E817)
Jun 6, 2013
Introduced in House
 Plain-English summary Congressional Research Service

Protection from Rogue Oil Traders Engaging in Computerized Trading Act or PROTECT Act - Amends the Commodities Exchange Act to make it unlawful to engage in an activity that the Commodities Futures Trading Commission (CFTC) has defined as high frequency trading, unless the person has registered with the CFTC as a high frequency trader, and the registration has neither expired nor been suspended or revoked.

Prescribes requirements governing high frequency trading.

Requires the fine for a high frequency trading violation to be based on the number of seconds, including fractions of seconds, during which the violation continued.

Authorizes the CFTC to define the scope of any violation for purposes of determining the number involved in any civil case arising under this Act.

Increases the civil penalties for violations of the prohibition against manipulation and false information with respect to swaps and commodities.

What's happening now June 25, 2013

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

 Committees of jurisdiction 2