H.R. 4333 · 116th Congress
To amend the Commodity Exchange Act to provide certainty for futures customers and market participants, and for other purposes.
- Stage
- In committee
- Sponsor
- Abigail Spanberger
- Introduced
- 2019-09-13
- Latest action
- 2019-09-25 · Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
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.