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United States · Bill · HR

H.R. 11323 (93rd)

Commodity Exchange Commission Act

referredUnited States· United States Congress· EN

Introduced

7 November 1973

Last action

7 November 1973 · Introduced

Status

Referred to House Committee on Agriculture.

Sponsors

Rep. Smith, Neal Edward [D-IA-4], Sen. Adams, Brock [D-WA], Rep. Addabbo, Joseph P. [D-NY-6], Rep. Alexander, Bill [D-AR-1], Sen. Andrews, Mark [R-ND], Rep. Brown, George E., Jr. [D-CA-42], Rep. Burlison, Bill D. [D-MO-10], Rep. Conte, Silvio O. [R-MA-1], Rep. Cotter, William R. [D-CT-1], Rep. Duncan, John J. [R-TN-2], Rep. Evins, Joe L. [D-TN-4], Rep. Fascell, Dante B. [D-FL-19], Rep. Forsythe, Edwin B. [R-NJ-6], Rep. Grasso, Ella T. [D-CT-6], Rep. Hamilton, Lee H. [D-IN-9], Rep. Ichord, Richard H. [D-MO-8], Rep. Leggett, Robert L. [D-CA-4], Rep. Lehman, William [D-FL-17], Rep. Mezvinsky, Edward [D-IA-1], Rep. Murphy, John M. [D-NY-17], Rep. Obey, David R. [D-WI-7], Rep. Perkins, Carl Dewey [D-KY-7], Rep. Preyer, Richardson [D-NC-6], Rep. Rees, Thomas M. [D-CA-23]

Subjects

Discovery layer

Source updated

3 September 2025

Official sourceView documentsShare

Summary

Commodities Exchange Commission Act - Establishes a Commodity Exchange Commission, composed of five commissioners appointed by the President by and with the advice and consent of the Senate, as an independent agency in the executive branch of the Government. Transfers specified functions from the Secretary of Agriculture to the Commission and delegates enumerated housekeeping functions to the Chairman. Authorizes the employment of persons without regard to Civil Service laws. Provides, with regard to rules governing registration of Commission merchants and brokers, that if after requesting a contract market to make specified changes in its rules and practices, the contract market has not made the changes, the Commission may order the contract market to alter the rules of such contract market as necessary to effect changes in specified areas. Requires that contract markets serve an economic purpose. Prohibits orders by futures commission merchants for their own accounts. States that no member of a contract market shall execute any order for future delivery and on the same intentionally enter into any transaction for future delivery in such commodity for any account in which such member has trading discretion, with specified exceptions. Provides that if any contract market, director, officer or agent is not enforcing or is violating any of the provisions of this Act, the Commission may enter an order directing that such contract market, director, officer, agent, or employee cease and desist from such violation and assess a civil penalty of not more than $100,000 for each such violation. Increases the amount of specific penalties for violations of this Act. Empowers the Commission with injunctive authority to restrain potential violations of this Act. Penalizes, with treble damages, the use of confidential information in violation of this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 7 November 1973

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 7 November 1973

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 7 November 1973

    Introduced

    Referred to House Committee on Agriculture.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

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Sources

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