Summary: H.R.594 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for H.R.594. Bill summaries are authored by CRS.

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Introduced in House (01/19/2007)

Prevent Unfair Manipulation of Prices Act of 2007 - Amends the Commodity Exchange Act to extend its jurisdiction to certain: (1) "included energy transactions" traded on an electronic trading facility; and (2) certain 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 Commodity Futures Trading Commission to impose civil and criminal penalties for price manipulation and other violations of such Act.