H.R. 5186 · 112th Congress
Halt Index Trading of Energy Commodities (HITEC) Act
- Stage
- In committee
- Sponsor
- Ed Markey
- Introduced
- 2012-04-27
- Latest action
- 2012-05-10 · Referred to the Subcommittee on General Farm Commodities and Risk Management.
Summary
Halt Index Trading of Energy Commodities (HITEC) Act - Amends the Commodity Exchange Act to declare unlawful for: (1) a commodity index fund to engage in an energy commodity transaction if any person investing in the fund is an excluded investor, (2) an energy commodity index fund to accept an investment from a person who is an excluded investor, or (3) a commodity index fund to hold an investment in an energy commodity if any person investing in the fund is an excluded investor.
Defines "excluded investor" as a person with respect to whom there is no position in an energy commodity which, if held by the person, would be considered a bona fide hedging position.