Detailed Summary

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

Status of the Legislation

Latest Major Action: 2/2/2007: Referred to House subcommittee. Status: Referred to the Subcommittee on General Farm Commodities and Risk Management.

Points in Favor

(Log in to edit the wiki and be the first to show why the bill should pass!)

Points Against

(Log in to edit the wiki and be the first to show why the bill should not pass!)