Bill Number: S. S. 2724
Short Title: (No short title)
Introduced: July 11, 2002
Sponsor: Senator Dianne Feinstein (D-CA)
Purpose: To provide regulatory oversight over energy trading markets
and metal trading markets, and for other purposes.
Summary: Amends the Commodity Exchange Act to instruct the Commodities
Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission
(FERC) to maintain a liaison with one another. Places transactions in certain
energy or metal commodities within the regulatory and enforcement framework
governing futures trading and foreign transactions (including a proscription
against market price manipulation of any commodity in either interstate commerce
or on the contract market for future delivery). Places electronic trading
facilities (bilateral dealer markets) under the regulatory oversight of the
CFTC, including filing, recordkeeping, reporting and capital requirements.
Prohibits contracts designed to defraud or mislead. Amends the Department
of Energy Organization Act to mandate that the following agencies hold quarterly
meetings to discuss conditions in energy trading markets and any changes in
Federal law needed to regulate them: FERC, CFTC, the Securities Exchange Commission,
the Federal Trade Commission and the Federal Reserve Board.
Senate
Bills
107th Congress