S.3122 - Policing United States Oil Commodities Markets Act of 2008110th Congress (2007-2008)
|Sponsor:||Sen. Cantwell, Maria [D-WA] (Introduced 06/12/2008)|
|Committees:||Senate - Agriculture, Nutrition, and Forestry|
|Latest Action:||06/12/2008 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (All Actions)|
This bill has the status Introduced
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: S.3122 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in Senate (06/12/2008)
Policing United States Oil Commodities Markets Act of 2008 - Amends the Commodity Exchange Act to require a covered market or facility to register with the Commodity Futures Trading Commission (CFTC) as a designated contract market and be subject to each rule established and regulation promulgated by the CFTC.
Defines "covered market or facility" as a contract market or electronic trading facility: (1) that operates one or more trading terminals within the United States; (2) on which there is transacted or facilitated any agreement, contract, or transaction that serves as a price discovery function for any energy commodity delivered in the United States; and (3) that is regulated by a foreign regulatory agency.