H.R. 4413 - Customer Protection and End User Relief Act

Bill Text

    Rules Committee Print 113-47 PDF XML

    Showing text based on H.R. 4413 as ordered reported by the Committee on Agriculture, H.R. 634, H.R. 677, H.R. 742, H.R. 1003, H.R. 1256, H.R. 3814, H.R. 4267, and H.R. 4330. 
            :: Section-by-Section summary, as prepared by the Committee on Agriculture  PDF

    Text of H.R. 4413 PDF XML

    Customer Protection and End User Relief Act (as reported) 

    Text of H. Rept. 113-469 PDF

    Report from the Committee on Agriculture

Rule Information

REPORTED BY RECORD VOTE of 8-2 on Wednesday, June 18, 2014.

Agreed to by record vote of 230-184 on Thursday, June 19, 2014.

MANAGERS: Sessions/Hastings (FL)

1. Structured rule.

2. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Agriculture.

3. Waives all points of order against consideration of the bill.

4. Makes in order as original text for purpose of amendment an amendment in the nature of a substitute consisting of the text of Rules Committee Print 113-47 and provides that it shall be considered as read.

5. Waives all points of order against that amendment in the nature of a substitute.

6. Makes in order only those further amendments printed in the Rules Committee report. Each such amendment may be offered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.

7. Waives all points of order against the amendments printed in the report.

8. Provides one motion to recommit with or without instructions.

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
16Version 1DeFazio (OR)DemocratLate Adds one requirement to the study on high frequency trading: Whether such trading increases market volatility, including short term market swings such as the "flash crash."Made In Order
3Version 1DeLauro (CT), Welch (VT), Courtney (CT)DemocratRequires the CFTC to collect modest user fees to recover the cost of their annual appropriation, bringing it in line with other financial regulators including: Securities and Exchange Commission, National Credit Union Association, Federal Housing Finance Agency, and Federal Deposit Insurance Corporation. Submitted
17Version 1DelBene (WA), Gibson (NY), Vargas (CA)Bi-PartisanLate Ensures that the Commission’s assessment of costs and benefits regarding rules and orders will be affirmed by a court unless that assessment is found to be an abuse of discretion.Made In Order
10Version 2Deutch (FL)DemocratRevised Permits the Commodity Futures Trading Commission to self-fund up to a spending cap set by Congress. Submitted
1Version 2Fincher (TN)RepublicanRevised Directs the Comptroller General of the United States to conduct a study of the efficiencies in leasing and rental costs at the Commodity Futures Trading Commission. Made In Order
11Version 1Garrett (NJ)RepublicanExempts Registered Investment Companies (RICs) that are currently registered with the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940 from duplicative registration requirements with the Commodity Futures Trading Commission (CFTC). The SEC will continue to have full regulatory oversight and enforcement authority over RICs. Does not remove the jurisdiction and regulatory authority that the CFTC has over all futures, options and swaps transactions that the RICs invest in on behalf of their customers who are pensioners, retirees, and savers.Made in Order
12Version 1Jackson Lee (TX)DemocratPermits Commssion approval or denial of the financial models of swap dealers and participants.Submitted
13Version 1Jackson Lee (TX)DemocratPreserves existing law by striking “United States Court of Appeals for the District of Columbia Circuit or the United States Court of Appeals for the circuit,” and replaces with “United States District Court for the District of Columbia or the United States District Court for the district.”Made In Order
14Version 1Jackson Lee (TX)DemocratRequires a study on entities regulated by the Commodities Futures Trading Commission.Made In Order
4Version 1Lynch (MA), Waters (CA)DemocratProtects U.S. taxpayers by affording the Commodity Futures Trading Commission the power to regulate swaps activity in foreign markets that directly and significantly impact U.S. commerce.Submitted
5Version 1Lynch (MA)DemocratProtects against abuses in the markets caused by high frequency trading by requiring the Commodity Futures Trading Commission to commence a rulemaking to address high frequency trading on markets in its jurisdiction.Submitted
2Version 1Moore, Gwen (WI)DemocratStrikes Section 203, and replaces with the SENSE OF CONGRESS that the Commodities Future Trading Commission is already required by law to consider costs and benefits when promulgating rules and issuing orders, and is held accountable to this requirement by courts. Made In Order
15Version 1Sarbanes (MD)DemocratIncreases CFTC monetary penalties for individuals, and persons other than individuals, found in violation of the Commodity Exchange Act and expands the statute of limitation from 5 to 10 years under which the CFTC may sue to seek penalties.Submitted
6Version 1Waters (CA)DemocratPrevents the CFTC from second-guessing determinations already made by Congress by prohibiting the Commission from considering costs and benefits of rules expressly mandated by statute.Submitted
7Version 1Waters (CA)DemocratPrevents individuals from serving on advisory committees of the CFTC if the individual – or their employer, related to conduct the individual has been involved in – has been convicted of, has entered into a judicial or administrative decree or order determining guilt for, or is under investigation related to, violations of the Federal securities laws or the Commodity Exchange Act.Submitted
9Version 1Waters (CA)DemocratProhibits judicial review of any consideration by the CFTC of the costs and benefits of its rules and orders.Made In Order
8Version 1Welch (VT), DeLauro (CT)DemocratEnsures that nothing in the cost-benefit analysis section of the bill interferes with the ability of the Commission to prevent fraud, manipulation, or excessive speculation. Submitted