S.2724 - A bill to provide regulatory oversight over energy trading markets and metals trading markets, and for other purposes.107th Congress (2001-2002)
|Sponsor:||Sen. Feinstein, Dianne [D-CA] (Introduced 07/11/2002)|
|Committees:||Senate - Agriculture, Nutrition, and Forestry|
|Latest Action:||07/11/2002 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.|
This bill has the status Introduced
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: S.2724 — 107th Congress (2001-2002)All Bill Information (Except Text)
Amends the Commodity Exchange Act to instruct the Commodities Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission (FERC) to maintain a liaison with one another.
Introduced in Senate (07/11/2002)
Places transactions in certain energy or metal commodities within the regulatory and enforcement framework governing futures trading and foreign transactions (including a proscription against market price manipulation of any commodity in either interstate commerce or on the contract market for future delivery).
Places electronic trading facilities (bilateral dealer markets) under the regulatory oversight of the CFTC, including filing, recordkeeping, reporting and capital requirements.
Prohibits contracts designed to defraud or mislead.
Amends the Department of Energy Organization Act to mandate that the following agencies hold quarterly meetings to discuss conditions in energy trading markets and any changes in Federal law needed to regulate them: FERC, CFTC, the Securities Exchange Commission, the Federal Trade Commission and the Federal Reserve Board.