US Congress Senate Bill 1560 (Prior Session Legislation)

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Sponsorship: Bipartisan Bill
Status: Introduced on June 11 2015 - 25% progression, died in committee
Action: 2015-06-11 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Pending: Senate Agriculture, Nutrition, And Forestry Committee
Text: Latest bill text (Introduced) [PDF]

A bill to amend the Commodity Exchange Act to provide end-users with a reasonable amount of time to meet their margin requirements and to repeal certain indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities. This bill amends the Commodity Exchange Act to declare that any rules or regulations requiring a futures commission merchant (FCM) to maintain a residual interest in accounts held for the benefit of customers in amounts at least sufficient to exceed the sum of all the customers' uncollected margin deficits shall require an FCM to meet its residual interest requirement as of the end of each business day calculated as of the close of business on the previous business day. The bill repeals the prerequisite to sharing by Commodity Futures Trading Commission (CFTC) with a specified entity of information on swaps cleared by derivatives clearing organizations that the entity agree to indemnify the CFTC for any expenses arising from litigation relating to that information. The bill also: repeals a similar prerequisite for information-sharing by a swap data repository, and makes a similar and conforming amendment to the Securities Exchange Act of 1934 with respect to a securities-based swap data repository. States that this Act takes effect as if enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010.

A bill to amend the Commodity Exchange Act to provide end-users with a reasonable amount of time to meet their margin requirements and to repeal certain indemnification requirements for regulatory authorities to obtain access to swap data required to be provided by swaps entities.

Sen. Pat Roberts [R-KS]

Sen. Heidi Heitkamp [D-ND]

Date	Chamber	Action
2015-06-11	Senate	Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

HB37 (Related) 2015-01-16 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
HB1847 (Related) 2015-07-15 - Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
HB2289 (Related) 2015-06-10 - Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
SB1484 (Related) 2015-07-23 - Committee on Banking, Housing, and Urban Affairs. Hearings held.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1560/all-info
Text	https://www.congress.gov/114/bills/s1560/BILLS-114s1560is.pdf