H.R.5248 - Prevent Unfair Manipulation of Prices Act of 2006109th Congress (2005-2006)
|Sponsor:||Rep. Stupak, Bart [D-MI-1] (Introduced 04/27/2006)|
|Committees:||House - Agriculture|
|Latest Action:||05/10/2006 Sponsor introductory remarks on measure. (All Actions)|
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Summary: H.R.5248 — 109th Congress (2005-2006)All Bill Information (Except Text)
Introduced in House (04/27/2006)
Prevent Unfair Manipulation of Prices Act of 2006 - Amends the Commodity Exchange Act to extend its jurisdiction to certain: (1) "included energy transactions" traded on an electronic trading facility; and (2) energy commodities involved in over-the-counter transactions.
Sets forth reporting and recordkeeping requirements for: (1) certain contract participants that enter into or execute "included energy transactions;" and (2) electronic trading facilities for energy commodities.
Extends prohibitions against fraudulent transactions to: (1) filling an order by offset against the other person's order; and (2) knowingly and willfully becoming the buyer in respect to another person's selling order, or the seller in respect to another person's buying order, without the other person's prior consent.
Empowers the Commodities Futures Trading Commission to impose civil and criminal penalties for price manipulation and other violations of such Act.