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2016-6-29 Derivatives Oversight and Taxpayer Protection Act Bill Text
2016-6-29 Derivatives Oversight and Taxpayer Protection Act Bill Text
S.L.C.
114TH CONGRESS
2D SESSION
S. ll
To amend the Commodity Exchange Act to clarify which fees the Commodity
Futures Trading Commission may assess and collect, and for other purposes.
A BILL
To amend the Commodity Exchange Act to clarify which
fees the Commodity Futures Trading Commission may
assess and collect, and for other purposes.
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TITLE ISTRENGTHENING
OVERSIGHT AND ENFORCEMENT
(a) RECOVERY
OF
CERTAIN COSTS
OF
ANNUAL AP-
PROPRIATION.
(1) IN
GENERAL.Effective
beginning Octo-
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and
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(3) SERVICE
FEES.The
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data repositories.
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(4) FEE
RATES.Fees
assessed shall
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Commission;
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public interest;
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(5) COLLECTION
OF FEES.The
Commission
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by the Commission.
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2
(1) OFFSETTING
COLLECTIONS.Fees
col-
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(2) GENERAL
REVENUES PROHIBITED.No
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(1) ANNUAL
ADJUSTMENT.For
each fiscal
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(2) MID-YEAR
(A) IN
ADJUSTMENT.
GENERAL.For
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(B) ADJUSTMENT.
(i) IN
GENERAL.If
the Commission
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gress.
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(e) LAPSE
OF
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1 30 of the preceding fiscal year, until 90 days after the
2 date a regular appropriation is enacted..
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FORCEMENT ACTIONS.
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(a)
CIVIL
PENALTIES
GENERALLY.Section
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violation;
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(I)
found
in
proceeding
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Commission thereunder;
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(II)
found
in
proceeding
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sion thereunder;
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thereunder; or
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(b) FINES
LATION OF
AND
CEASE
AND
TO
VIO-
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sion thereunder;
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Commission thereunder;
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mission thereunder; or
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swap..
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(c) NONENFORCEMENT
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OR
OF
RULES
OF
GOVERNMENT
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(2)
in
the
second
sentence,
by
striking
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violation;
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tion; or
such violation; or
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has been
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mission thereunder;
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mission thereunder;
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Energy
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thereunder;
Regulatory
Commission
issued
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Commission thereunder; or
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swap..
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(f) STATUTE
OF
LIMITATIONS.Section 9 of the
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GENERAL.An
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occurred..
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(1) IN
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GENERAL.The
provisions;
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(2)
SUBSTITUTED
COMPLIANCE.Notwith-
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(E) TREATMENT
OF FOREIGN EXCHANGE
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SWAPS
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AND
FORWARDS.Foreign
exchange
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1 istered as a swap data repository under this section avail2 able to any other financial regulatory agency
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request..
GENERAL.Not
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data repositories
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analyzed by regulators.
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TITLE
IISHIFTING
DERIVATIVES RISKS FROM TAXPAYERS TO FINANCIAL INSTITUTIONS
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(C) CONSOLIDATED
ASSETS.
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tion means
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U.S.C. 78c(a));
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ernors;
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section (a).
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(ii) IN
GENERAL.For
purposes of
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ment
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a counterparty; and
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business practice, to
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(AA)
exchange
collateral
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formal arrangement.
(D) TOTAL
DERIVATIVES
RISK
EXPO-
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SURES.For
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purposes
of
determining
the
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stitution,
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as
defined
in
subparagraph
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to other assets..
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event?
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systemic event?
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18 quired under subsection (a) shall contain policy rec19 ommendations associated with the answers to the ques20 tions posed under paragraphs (1) through (7) of that sub21 section.