Summary: S.3051 — 94th Congress (1975-1976)All Information (Except Text)

Bill summaries are authored by CRS.

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Reported to House with amendment(s) (09/09/1976)

(Reported to House from the Committee on Agriculture and Forestry with amendment, S. Rept. 94-1488)

Repeals the requirement under the Commodity Exchange Act that the appointment of the exeuctive director of the Commodity Futures Trading Commission be subject to confirmation by the Senate.

Requires the maintenance of daily trading records in a specified manner and form by floor brokers.

Extends from 30 days to six months the time when the registration of any commodity trading advisor or commodity pool operator is to become effective after the Commission's receipt of the application.

Extends the antifraud provisions of the Act to persons who should be registered under such Act.

Authorizes the Commodity Futures Trading Commission to grant immunity to witnesses appearing before the Commission.

Includes within the provisions of the Commodity Exchange Act prohibitions now contained in the Commodity Futures Trading Commission Act against beverage and margin contracts contrary to rules and regulations of the Commodity Futures Trading Commission.