H. R. 3814
IN THE HOUSE OF REPRESENTATIVES
January 7, 2014
Mr. Hudson introduced the following bill; which was referred to the Committee on Agriculture
To amend the Commodity Exchange Act to require the de minimis quantity of swap dealing needed to qualify for exemption from designation as a swap dealer to be changed by a vote of the Commodity Futures Trading Commission.
This Act may be cited as the
Risk Management Certainty Act
Commission vote required before automatic change of swap dealer de minimis level
Section 1a(49)(D) of the Commodity Exchange Act ( 7 U.S.C. 1a(49)(D) ) is amended to read as follows:
De minimis exception
The Commission shall exempt from designation as a swap dealer an entity that engages in a de minimis quantity of swap dealing (which shall not be less than $8,000,000,000) in connection with transactions with or on behalf of its customers. The Commission shall promulgate regulations to establish the factors to be used in a determination to so exempt, including any monetary or other levels established by the Commission, and such levels shall only be amended or changed through an affirmative action of the Commission undertaken by rule or regulation.