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4/10/2008--Introduced.<br/>CFTC Improvement Act of 2008 - Amends the Commodity Exchange Act to revise Commodity Futures Trading Commission (CFTC) jurisdiction over certain agreements, contracts, and transactions in retail foreign currency. Extends coverage to certain future commissions merchants (and affiliated persons) and retail foreign exchange dealers. Requires them to register with the CFTC in order to solicit or accept orders from any person that is not an eligible contract participant in connection with such agreements, contracts, or transactions. Directs the CFTC to maintain a liaison with the Department of Justice to coordinate civil and criminal investigations and prosecutions of violations of the Act. Revises the prohibition against contracts designed to defraud or mislead. Declares that the requirements of such prohibition do not obligate any person, in connection with a transaction, to disclose to another person in the transaction any nonpublic information that may be material to the market price, rate, or level of the commodity or transaction, except as necessary to make any statement to such other person not misleading in any material respect. Increases: (1) the civil penalty for market manipulation to $1 million, or triple the monetary gain for each such violation; and (2) the criminal penalty for market manipulation from five to ten years imprisonment Authorizes appropriations for the CFTC through FY2013. Requires the agencies represented on the President's Working Group on Financial Markets to work to ensure that the Securities and Exchange Commission (SEC), and the CFTC, have taken the actions to permit: (1) by September 30, 2008, risk-based portfolio margining for security options and security futures products; and (2) by June 30, 2008, the trading of futures on certain security indexes by resolving issues related to foreign security indexes. Sets forth standards applicable to significant price discover contracts, including: (1) price linkage; (2) arbitrage; (3) core principles applicable to significant price discovery contract; and (4) daily publication of trading information. Subjects to CFTC (large trader) reporting and recordkeeping requirements any significant price discovery contract traded or executed on an electronic trading facility.

1207800000 2008-04-10 Fri Nov 07 05:54:43 -0600 2008 introduced 49997 'act':3 '2008':5 'cftc':1 'improv':2 59164 false short introduced 49997 'act':6 'amend':2 'futur':11 'trade':12 'author':14 'commod':4,10 'provid':8 'purpos':26 'retail':19 'commiss':13 'currenc':21 'exchang':5,18 'foreign':20 'transact':22 'off-exchang':16 58228 false official action 49997 1207800000 Thu Apr 10 00:00:00 -0500 2008 149750 Referred to House Agriculture F000372 1946-04-29 2442 Rayburn House Office Building http://frelinghuysen.house.gov/contactus/form.cfm 11 202-225-3186 Rodney 'r':4 'nj':5 '-11':6 'rep':1 'rodney':2,7,9 'frelinghuysen':3,8,10 M 400142 Frelinghuysen Rodney_P._Frelinghuysen P. Rep. Rodney Frelinghuysen [R, NJ-11] N00000684 5684 Republican 202-225-5034 Episcopalian NJ Rodney Frelinghuysen 6.83333333333333 http://frelinghuysen.house.gov/ E000187 1956-06-20 Philip 'phil':5 'philip':1,3,6 'english':2,4,7 M 400123 English Phil_English Philip English Phil N00001427 4986 Republican Roman Catholic Philip English J000255 1943-02-10 2333 Rayburn House Office Building http://jones.house.gov/contact_form_email.cfm 3 202-225-3286 Walter 'r':4 '-3':6 'nc':5 'rep':1 'jone':3,8,10 'walter':2,7,9 M 400209 Jones Walter_B._Jones Beaman Rep. Walter Jones [R, NC-3] N00002299 6785 Republican 202-225-3415 Catholic NC Walter Jones 6.0 http://jones.house.gov/ action 49997 1207800000 Thu Apr 10 00:00:00 -0500 2008 149750 Referred to House Agriculture action 49997 1207800000 Thu Apr 10 00:00:00 -0500 2008 149751 Referred to House Financial Services introduced 49997 1207800000 Thu Apr 10 00:00:00 -0500 2008 149747 action 49997 1207800000 Thu Apr 10 00:00:00 -0500 2008 149748 Sponsor introductory remarks on measure. (CR E580) action 49997 1207800000 Thu Apr 10 00:00:00 -0500 2008 149749 Referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.