H.R. 6372, The Commodity Futures Restoration Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 6372 would reestablish standards from the Commodity Exchange Act to provide for the regulation of United States markets in energy commodity futures.

Detailed Summary

Commodity Futures Restoration Act - Amends the Commodity Exchange Act to remove "energy commodity" from the category of exempt commodities (thus bringing "energy commodity" within the purview of the Act and extending the jurisdiction of the Commodity Futures Trading Commission (CFTC) to derivatives and swaps involving energy commodities).

Declares that a board of trade, exchange, or market shall not be considered to be foreign or located outside the United States if: (1) it has an affiliate located in the United States; or (2) a contract of sale of a commodity, or a significant price discovery contract, is executed or traded on such board of trade, exchange, or market.

Status of the Legislation

Latest Major Action: 6/25/2008: Referred to House committee. Status: Referred to the House Committee on Agriculture.

Points in Favor

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Points Against

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