Summary: S.2724 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for S.2724. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (07/11/2002)

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.

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.