Derivative securities Legislation - Federal Government

To provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes. 6/20/2008--Introduced. Prevent Unfair Manipulation of Prices Act of 2008 - Amends the Commodity Exchange Act (CEA) to extend the regulatory authority of the Commodity Futures Trading Commission (CFTC) to certain transactions in derivatives involving specified energy commodities ("included energy transactions"), including those on foreign boards of trade.Defines "included energy transaction" as a contract, agreement, or transaction in an energy commodity for future delivery that: (1) provides for a delivery point in the United States; or (2) is transacted on a computer terminal located in the United States.Prohibits the CFTC from exempting from regulation any "included energy transaction" unless [...]

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To amend the Commodity Exchange Act to prevent price manipulation and excessive speculation and to increase transparency with respect to energy trading on foreign exchanges conducted within the United States. 6/17/2008--Introduced. Close the London Loophole Act of 2008 - Amends the Commodity Exchange Act to authorize the Commodity Futures Trading Commission (CFTC), in the case of a registered entity located within the United States, and subject to CFTC jurisdiction, which trades on a foreign board of trade, exchange, or market located outside the United States, to: (1) enforce criminal prosecution of violations, including manipulation or attempted manipulation, the making of false statements, and willful violations of this Act; (2) require a person to limit, reduce, or liquidate any position to prevent or reduce the threat of price manipulation, excessive speculation, price distortion, or disruption of delivery or the cash settlement process; and (3) apply necessary recordkeeping [...]

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To regulate over-the-counter trading of energy derivatives. 1/19/2007--Introduced. Prevent Unfair Manipulation of Prices Act of 2007 - Amends the Commodity Exchange Act to extend its jurisdiction to certain: (1) "included energy transactions" traded on an electronic trading facility; and (2) certain energy commodities involved in over-the-counter transactions. Sets forth reporting and recordkeeping requirements for: (1) certain contract participants that enter into or execute "included energy transactions;" and (2) electronic trading facilities for energy commodities. Extends prohibitions against fraudulent transactions to: (1) filling an order by offset against the other person's order; and (2) knowingly and willfully becoming the buyer in respect to another person's selling order, or the seller in respect to another person's buying order, without the other person's prior consent. Empowers the Commodities Futures Trading Commission [...]

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To enhance transparency of trading in over-the-counter derivatives in natural gas. 7/12/2007--Introduced. Market Transparency Reporting of United States Transactions Act of 2007 - Amends the Commodity Exchange Act to define "included natural gas transaction" as a contract, agreement, or transaction in natural gas that is entered into: (1) in reliance on the provisions regarding either excluded swap transactions or the legal certainty for certain transaction in exempt commodities; or (2) by use of a domestic technology or software providing direct access to a foreign board of trade. (Thus places natural gas transactions within the jurisdiction of the Commodity Futures Trading Commission (CFTC).) Prescribes recordkeeping and disclosure requirements governing natural gas in swap transactions, positions, inventories and commitments otherwise excluded from CFTC jurisdiction ("over-the-counter transactions"). Requires the CFTC to: (1) establish [...]

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A bill to provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes. 5/7/2008--Introduced. Consumer-First Energy Act of 2008 - Amends the Internal Revenue Code to: (1) deny major integrated oil companies (i.e., companies producing at least 500,000 barrels of crude oil daily) a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (2) conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit; (3) impose a windfall profits tax on major integrated oil companies; and (4) establish an Energy Independence and Security Trust Fund funded by revenues raised by the tax provisions of this Act to reduce U.S. dependence on foreign and unsustainable energy sources and reduce the risks of global warming. Petroleum Consumer Price Gouging Protection Act - Declares [...]

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A bill to provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes. 5/20/2008--Introduced. Consumer-First Energy Act of 2008 - Amends the Internal Revenue Code to: (1) deny major integrated oil companies (i.e., companies producing at least 500,000 barrels of crude oil daily) a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (2) conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit; (3) impose a windfall profits tax on major integrated oil companies; and (4) establish an Energy Independence and Security Trust Fund funded by revenues raised by the tax provisions of this Act to reduce U.S. dependence on foreign and unsustainable energy sources and reduce the risks of global warming. Petroleum Consumer Price Gouging Protection Act - Declares [...]

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A bill to amend the Commodity Exchange Act to enhance oil trading transparency. 5/8/2008--Introduced. Oil Trading Transparency Act - Amends the Commodity Exchange Act to address the kind of case in which the Commodity Futures Trading Commission (CFTC) grants or considers granting relief to a foreign board of trade from the requirement that it become a designated contract market, derivatives transaction execution facility, or other registered entity with respect to an energy commodity physically delivered in the United States. Requires the CFTC, before granting or considering such relief, to determine that the foreign board of trade: (1) applies comparable principles or requirements regarding daily publication of trading information and position limits or accountability levels for speculators as apply to a designated contract market, derivatives transaction execution facility, or other registered entity trading energy commodities physically delivered in the United States;[...]

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A bill to provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes. 6/24/2008--Introduced. Prevent Unfair Manipulation of Prices Act of 2008 - Amends the Commodity Exchange Act (CEA) to extend the regulatory authority of the Commodity Futures Trading Commission (CFTC) to certain transactions in derivatives involving specified energy commodities ("included energy transactions"), including those on foreign boards of trade.Defines "included energy transaction" as a contract, agreement, or transaction in an energy commodity for future delivery that: (1) provides for a delivery point in the United States; or (2) is transacted on a computer terminal located in the United States.Prohibits the CFTC from exempting from regulation any "included energy transaction"[...]

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To amend the Commodity Exchange Act to bring greater transparency and accountability to commodity markets, and for other purposes. 7/24/2008--Introduced. Commodity Markets Transparency and Accountability Act of 2008 - Amends the Commodity Exchange Act to define "energy commodity." Prohibits the Commodity Futures Trading Commission (CFTC) from permitting a foreign board of trade to provide its U.S-located members with access to the CFTC electronic trading system and order matching system for energy or agricultural commodities unless such board meets requirements similar to those imposed upon U.S. exchanges. Subjects swap transactions, transactions for agricultural and energy commodities, and large traders in over-the-counter contracts to reporting and recordkeeping requirements. Directs the Commission to: (1) set position limits for any one person with respect to designated contract markets, derivative transaction execution facilities, and electronic [...]

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A bill to address record high gas prices at the pump, and for other purposes. 6/26/2008--Introduced. Gas Price Reduction Act of 2008 - Amends the Outer Continental Shelf Lands Act (OCSLA) to prescribe procedures for petition, by the governor of a state with a new producing area within the offshore administrative boundaries beyond the state's submerged land, to make the new producing area available for oil and gas leasing. Directs the Secretary of the Treasury to deposit specified percentages of outer Continental Shelf revenues into: (1) the general fund of the Treasury; and (2) into a special account in the Treasury for disbursal to both new producing states and to the Land and Water Conservation Fund. Amends the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2008, to repeal the prohibition against funding: (1) regulations regarding a commercial leasing program for oil shale resources on public lands; or (2) an oil shale lease [...]

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A bill to provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes. 6/24/2008--Introduced. Prevent Unfair Manipulation of Prices Act of 2008 - Amends the Commodity Exchange Act (CEA) to extend the regulatory authority of the Commodity Futures Trading Commission (CFTC) to certain transactions in derivatives involving specified energy commodities ("included energy transactions"), including those on foreign boards of trade.Defines "included energy transaction" as a contract, agreement, or transaction in an energy commodity for future delivery that: (1) provides for a delivery point in the United States; or (2) is transacted on a computer terminal located in the United States.Prohibits the CFTC from exempting from regulation any "included energy transaction"[...]

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To provide for regulation of certain transactions involving energy commodities, to strengthen the enforcement authorities of the Federal Energy Regulatory Commission under the Natural Gas Act and the Federal Power Act, and for other purposes. 6/20/2008--Introduced. Prevent Unfair Manipulation of Prices Act of 2008 - Amends the Commodity Exchange Act (CEA) to extend the regulatory authority of the Commodity Futures Trading Commission (CFTC) to certain transactions in derivatives involving specified energy commodities ("included energy transactions"), including those on foreign boards of trade.Defines "included energy transaction" as a contract, agreement, or transaction in an energy commodity for future delivery that: (1) provides for a delivery point in the United States; or (2) is transacted on a computer terminal located in the United States.Prohibits the CFTC from exempting from regulation any "included energy transaction" unless [...]

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To amend the Commodity Exchange Act to prevent price manipulation and excessive speculation and to increase transparency with respect to energy trading on foreign exchanges conducted within the United States. 6/17/2008--Introduced. Close the London Loophole Act of 2008 - Amends the Commodity Exchange Act to authorize the Commodity Futures Trading Commission (CFTC), in the case of a registered entity located within the United States, and subject to CFTC jurisdiction, which trades on a foreign board of trade, exchange, or market located outside the United States, to: (1) enforce criminal prosecution of violations, including manipulation or attempted manipulation, the making of false statements, and willful violations of this Act; (2) require a person to limit, reduce, or liquidate any position to prevent or reduce the threat of price manipulation, excessive speculation, price distortion, or disruption of delivery or the cash settlement process; and (3) apply necessary recordkeeping [...]

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A bill to provide energy price relief by authorizing greater resources and authority for the Commodity Futures Trading Commission, and for other purposes. 6/12/2008--Introduced. Increasing Transparency and Accountability in Oil Prices Act of 2008 - Expresses the sense of the Senate that the President should immediately send to Congress a request for emergency appropriations for FY2008 for the Commodity Futures Trading Commission (CFTC) in an amount sufficient to: (1) help restore public confidence in energy commodities markets and federal oversight of those markets; (2) potentially impose limits on excessive speculation that is increasing the price of oil, gasoline, diesel, and other energy commodities; (3) significantly improve the information technology capabilities of the CFTC to help it effectively regulate the energy futures markets; and (4) fund at least 100 new full-time positions at the CFTC to oversee energy commodity market speculation and to enforce the Commodity [...]

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A bill to amend the Commodity Exchange Act to prevent price manipulation and excessive speculation and to increase transparency with respect to energy trading on foreign exchanges conducted within the United States. 6/12/2008--Introduced. Close the London Loophole Act of 2008 - Amends the Commodity Exchange Act to authorize the Commodity Futures Trading Commission (CFTC), in the case of a registered entity located within the United States, and subject to CFTC jurisdiction, which trades on a foreign board of trade, exchange, or market located outside the United States, to: (1) enforce criminal prosecution of violations, including manipulation or attempted manipulation, the making of false statements, and willful violations of this Act; (2) require a person to limit, reduce, or liquidate any position to prevent or reduce the threat of price manipulation, excessive speculation, price distortion, or disruption of delivery or the cash settlement process; and (3) apply necessary [...]

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A bill to provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes. 5/20/2008--Introduced. Consumer-First Energy Act of 2008 - Amends the Internal Revenue Code to: (1) deny major integrated oil companies (i.e., companies producing at least 500,000 barrels of crude oil daily) a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (2) conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit; (3) impose a windfall profits tax on major integrated oil companies; and (4) establish an Energy Independence and Security Trust Fund funded by revenues raised by the tax provisions of this Act to reduce U.S. dependence on foreign and unsustainable energy sources and reduce the risks of global warming. Petroleum Consumer Price Gouging Protection Act - Declares [...]

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A bill to amend the Commodity Exchange Act to enhance oil trading transparency. 5/8/2008--Introduced. Oil Trading Transparency Act - Amends the Commodity Exchange Act to address the kind of case in which the Commodity Futures Trading Commission (CFTC) grants or considers granting relief to a foreign board of trade from the requirement that it become a designated contract market, derivatives transaction execution facility, or other registered entity with respect to an energy commodity physically delivered in the United States. Requires the CFTC, before granting or considering such relief, to determine that the foreign board of trade: (1) applies comparable principles or requirements regarding daily publication of trading information and position limits or accountability levels for speculators as apply to a designated contract market, derivatives transaction execution facility, or other registered entity trading energy commodities physically delivered in the United States;[...]

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