HR 4333
To amend the Commodity Exchange Act to provide certainty for futures customers and market participants, and for other purposes.
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to improve protections for customers and market participants in the commodities futures market by clarifying how assets are handled during a commodities broker’s bankruptcy. Specifically, it allows the Commodity Futures Trading Commission (CFTC) to designate certain assets, such as cash, securities, and inventory held by the broker, as ‘customer property.’ This designation would occur only if there isn’t enough other customer property to cover the debts of public customers. The bill seeks to provide more certainty regarding the distribution of assets in these situations.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Abigail Davis Spanberger
Cosponsor
John Katko
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