US Congress House Bill 3527 (Prior Session Legislation)

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February 8 2012 - Placed on the Union Calendar, Calendar No. 270.
Text: Latest bill text (Introduced) [PDF]

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.

Protecting Main Street End-Users From Excessive Regulation

Rep Hultgren, Randy	Rep Barrow, John	Rep Biggert, Judy	Rep Boren, Dan
Rep Dold, Robert J.	Rep Johnson, Timothy V.	Rep King, Peter T.	Rep Kinzinger, Adam
Rep Lance, Leonard	Rep Manzullo, Donald A.	Rep Matheson, Jim	Rep Ross, Mike
Rep Schock, Aaron

Date	Chamber	Action
2012-02-08	House	Placed on the Union Calendar, Calendar No. 270.
2012-02-08	House	Reported (Amended) by the Committee on Agriculture. H. Rept. 112-391.
2012-01-25	House	Ordered to be Reported (Amended) by Voice Vote.
2012-01-25	House	Committee Consideration and Mark-up Session Held.
2011-11-30	House	Referred to the House Committee on Agriculture.

Type	Source
Summary	http://thomas.loc.gov/cgi-bin/bdquery/z?d112:HN03527:@@@L&summ2=m&
Text	http://gpo.gov/fdsys/pkg/BILLS-112hr3527ih/pdf/BILLS-112hr3527ih.pdf
Text	http://gpo.gov/fdsys/pkg/BILLS-112hr3527rh/pdf/BILLS-112hr3527rh.pdf