U.S. Congress - H.R.3527 Protecting Main Street End-Users From Excessive Regulation
H.R.3527 - Protecting Main Street End-Users From Excessive Regulation
To amend the Commodity Exchange Act to clarify the definition of swap dealer. view all titles (3)
All Bill Titles
- Official: To amend the Commodity Exchange Act to clarify the definition of swap dealer. as introduced.
- Short: Protecting Main Street End-Users From Excessive Regulation as introduced.
- Short: Protecting Main Street End-Users From Excessive Regulation as reported to house.
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Committees
Official Summary
2/8/2012--Reported to House amended. Protecting Main Street End-Users From Excessive Regulation - (Sec. 2) Amends the Commodity Exchange Act to revise the current exception to the definition of "swap dealer" to state that, in determining whether a person is a "swap dealer,&qOfficial Summary
2/8/2012--Reported to House amended. Protecting Main Street End-Users From Excessive Regulation -(Sec. 2)
Amends the Commodity Exchange Act to revise the current exception to the definition of "swap dealer" to state that, in determining whether a person is a "swap dealer," no consideration shall be given to any transaction entered into for the person's own account for the purpose of hedging or mitigating commercial risk. Directs the Commodity Futures Trading Commission (CFTC) to adopt standards distinguishing:(1) the activities of a swap dealer specified in current law, and
(2) entering into swaps for a person's own account in order to achieve its own trading objectives as determined by the CFTC. Directs the CFTC to exempt from designation as a swap dealer an entity that enters into swap dealing transactions with or on behalf of its customers if the aggregate gross notional amount of the outstanding swap dealing transactions entered into over the course of the preceding calendar year does not exceed $3 billion (or a greater amount, as market conditions warrant), adjusted for inflation.
(Sec. 3)
States that this Act shall be implemented:(1) without regard to federal law regarding coordination of federal information policy or rulemaking requirements concerning notice and comment, and
(2) through promulgation of an interim final rule.
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Organizations Supporting H.R.3527
- U. S. Chamber of Commerce
- Agricultural Retailers Association
- American Petroleum Institute
- Business Roundtable
- Financial Executives International
- National Association of Corporate Treasurers
- ...and 11 more. See all.
Organizations Opposing H.R.3527
- None via MapLight at this time.
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