House Bill 4333
116th Congress(2019-2020)
To amend the Commodity Exchange Act to provide certainty for futures customers and market participants, and for other purposes.
Introduced
Introduced in House on Sep 13, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4333
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
This bill allows the Commodities and Futures Trading Commission (CFTC) to consider certain property as customer property for purposes of distribution priority in the event of bankruptcy of a commodities broker. Specifically, the CFTC may provide by rule that cash, securities, or other property including trading or operating accounts of the broker and commodities held in inventory by the broker are considered customer property, but only if other customer property is insufficient to satisfy the net equity claims of public customers.
September 13, 2019
09/25/2019
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
09/13/2019
Referred to the House Committee on Agriculture.
09/13/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 1:50:01 PM