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: 11/19/2008: 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!)