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H.R. 3814 (113th): Risk Management Certainty Act

The text of the bill below is as of Jan 7, 2014 (Introduced).


I

113th CONGRESS

2d Session

H. R. 3814

IN THE HOUSE OF REPRESENTATIVES

January 7, 2014

introduced the following bill; which was referred to the Committee on Agriculture

A BILL

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.

1.

Short title

This Act may be cited as the Risk Management Certainty Act .

2.

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:

(D)

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.

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