Hearing Information
Meeting Information
Wednesday, June 18, 2014 - 3:00pm in H-313 The Capitol View Announcement »
Amendment Deadline
Tuesday, June 17, 2014 - 3:00pm View Announcement »
H.R. 4413 - Customer Protection and End User Relief Act
Video
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
Customer Protection and End User Relief Act (as reported)
Text of H. Rept. 113-469 PDF
Report from the Committee on Agriculture
Hearing Documents
Rule Information
COMMITTEE ACTION:
REPORTED BY RECORD VOTE of 8-2 on Wednesday, June 18, 2014.
FLOOR ACTION ON H. RES. 629:
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) | Party | Summary | Status |
|---|---|---|---|---|---|
| 16 | Version 1 | DeFazio (OR) | Democrat | Late 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 |
| 3 | Version 1 | DeLauro (CT), Welch (VT), Courtney (CT) | Democrat | Requires 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 |
| 17 | Version 1 | DelBene (WA), Gibson (NY), Vargas (CA) | Bi-Partisan | Late 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 |
| 10 | Version 2 | Deutch (FL) | Democrat | Revised Permits the Commodity Futures Trading Commission to self-fund up to a spending cap set by Congress. | Submitted |
| 1 | Version 2 | Fincher (TN) | Republican | Revised 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 |
| 11 | Version 1 | Garrett (NJ) | Republican | Exempts 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 |
| 12 | Version 1 | Jackson Lee (TX) | Democrat | Permits Commssion approval or denial of the financial models of swap dealers and participants. | Submitted |
| 13 | Version 1 | Jackson Lee (TX) | Democrat | Preserves 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 |
| 14 | Version 1 | Jackson Lee (TX) | Democrat | Requires a study on entities regulated by the Commodities Futures Trading Commission. | Made In Order |
| 4 | Version 1 | Lynch (MA), Waters (CA) | Democrat | Protects 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 |
| 5 | Version 1 | Lynch (MA) | Democrat | Protects 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 |
| 2 | Version 1 | Moore, Gwen (WI) | Democrat | Strikes 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 |
| 15 | Version 1 | Sarbanes (MD) | Democrat | Increases 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 |
| 6 | Version 1 | Waters (CA) | Democrat | Prevents 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 |
| 7 | Version 1 | Waters (CA) | Democrat | Prevents 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 |
| 9 | Version 1 | Waters (CA) | Democrat | Prohibits judicial review of any consideration by the CFTC of the costs and benefits of its rules and orders. | Made In Order |
| 8 | Version 1 | Welch (VT), DeLauro (CT) | Democrat | Ensures 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 |
Committee Votes
Rules Committee Record Vote No. 142
Motion by Ms. Slaughter to divide the debate time equally between the Committees on Agriculture and Financial Services. Defeated 2-8
Majority Member
Vote
Ms. Foxx
Nay
Nay
Mr. Cole
Nay
Mr. Woodall
Nay
Mr. Nugent
Nay
Mr. Webster
Nay
Ms. Ros-Lehtinen
No Vote
Mr. Burgess
Nay
Mr. Sessions, Chairman
Nay
Minority Member
Vote
Ms. Slaughter
Yea
Mr. McGovern
No Vote
Mr. Hastings
Yea
Mr. Polis
No Vote
Rules Committee Record Vote No. 143
Motion by Mr. Hastings of Florida to report an open rule. Defeated 2-8
Majority Member
Vote
Ms. Foxx
Nay
Nay
Mr. Cole
Nay
Mr. Woodall
Nay
Mr. Nugent
Nay
Mr. Webster
Nay
Ms. Ros-Lehtinen
No Vote
Mr. Burgess
Nay
Mr. Sessions, Chairman
Nay
Minority Member
Vote
Ms. Slaughter
Yea
Mr. McGovern
No Vote
Mr. Hastings
Yea
Mr. Polis
No Vote
Rules Committee Record Vote No. 144
Motion by Ms. Foxx to report the rule. Adopted 8-2
Majority Member
Vote
Ms. Foxx
Yea
Yea
Mr. Cole
Yea
Mr. Woodall
Yea
Mr. Nugent
Yea
Mr. Webster
Yea
Ms. Ros-Lehtinen
No Vote
Mr. Burgess
Yea
Mr. Sessions, Chairman
Yea
Minority Member
Vote
Ms. Slaughter
Nay
Mr. McGovern
No Vote
Mr. Hastings
Nay
Mr. Polis
No Vote