A bill to provide end user exemptions from certain provisions of the Commodity Exchange Act and the Securities Exchange Act of 1934.

Summary

Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements for certain significant price discovery agreements, contracts, or transactions in a commodity exempt from regulation by the Commodity Futures Trading Commission (CFTC); or (2) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. Amends the Securities Exchange Act of 1934, regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates. Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued. Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.

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

Timeline

1. 7 May 2013

   Introduced

   Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

   Source: Calendars

2. 7 May 2013

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 8 May 2013

   Calendars

   Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 67.

   Source: Calendars

Votes

No vote records are attached yet.

Versions

• Placed on Calendar Senate · 8 May 2013 · Download file

Documents

3 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 8 May 2013

  ViewDownloadOpen at official source

• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 8 May 2013

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 7 May 2013

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Johanns, Mike [R-NE] · R · Sponsor
• Sen. Tester, Jon [D-MT] · D · Sponsor
• Sen. Blunt, Roy [R-MO] · R · Sponsor
• Sen. Crapo, Mike [R-ID] · R · Sponsor
• Sen. Donnelly, Joe [D-IN] · D · Sponsor
• Sen. Hagan, Kay R. [D-NC] · D · Sponsor
• Sen. Heitkamp, Heidi [D-ND] · D · Sponsor
• Sen. Klobuchar, Amy [D-MN] · D · Sponsor
• Sen. Moran, Jerry [R-KS] · R · Sponsor
• Sen. Shelby, Richard C. [R-AL] · R · Sponsor
• Sen. Toomey, Patrick [R-PA] · R · Sponsor
• Sen. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Fischer, Deb [R-NE] · R · Cosponsor
• Sen. Heller, Dean [R-NV] · R · Cosponsor
• Sen. Baucus, Max [D-MT] · D · Cosponsor
• Sen. Hoeven, John [R-ND] · R · Cosponsor
• Sen. Portman, Rob [R-OH] · R · Cosponsor
• Sen. McConnell, Mitch [R-KY] · R · Cosponsor
• Sen. Inhofe, James M. [R-OK] · R · Cosponsor
• Sen. Isakson, Johnny [R-GA] · R · Cosponsor

Related records

• related to → Business Risk Mitigation and Price Stabilization Act of 2013
• related to → Promoting Job Creation and Reducing Small Business Burdens Act
• related to → To clarify the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act, to improve upon the definitions provided for points and fees in connection with a mortgage transaction, and for other purposes.
• related to ← End-User Protection Act of 2014