H.R.1003 - To improve consideration by the Commodity Futures Trading Commission of the costs and benefits of its regulations and orders.113th Congress (2013-2014)
|Sponsor:||Rep. Conaway, K. Michael [R-TX-11] (Introduced 03/06/2013)|
|Committees:||House - Agriculture|
|Latest Action:||03/20/2013 Ordered to be Reported by Voice Vote. (All Actions)|
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Summary: H.R.1003 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (03/06/2013)
Amends the Commodity Exchange Act to revise the requirement that the Commodity Futures Trading Commission (CFTC), before promulgating a regulation or issuing an order, consider the costs and benefits of the action. Requires the CFTC, through the Office of the Chief Economist, to: (1) assess the costs and benefits, both qualitative and quantitative, of an intended regulation; and (2) propose or adopt a regulation only on a reasoned determination that the benefits justify the costs.
Lists additional mandatory considerations for the CFTC to evaluate in making a reasoned determination of the costs and the benefits, including the impact on market liquidity in the futures and swaps markets, as well as alternatives to direct regulation.