Sec. 101. Fees to recover costs
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The Commodity Exchange Act is amended by inserting after section 10 ( 7 U.S.C. 17 ) the following: Effective beginning October 1, 2016, so as to recover the costs to the Federal Government of the annual appropriation to the Commission by Congress, the Commission shall assess and collect fees under this subsection. Subject to paragraph (3), the Commission may— assess fees to recover the costs of the regulatory services provided by the Commission; and assess fees from registered entities and persons registered under this Act.
The Commission may assess fees to recover the costs of the following regulatory services provided by the Commission: Designated contract market compliance examinations. Foreign board of trade registration reviews. Swap execution facility designation reviews. Swap data repository registration reviews. Designated contract market designation reviews. Swap execution facility compliance examinations. Swap data repository compliance reviews. Designated contract market contract review and approvals.
Swap execution facility contract review and approvals. Designated contract market contract certification and rule reviews. Swap execution facility contract certification and rule reviews. Swap data repository rule reviews. Reviews of mergers, transfers, and other action requests from designated contract markets, swap execution facilities, and swap data repositories. Designated self-regulatory organization financial surveillance reviews. Registered futures association compliance program reviews.
Derivatives clearing organization reviews. Futures commission merchant examinations. Registered foreign exchange dealer examinations. Swap dealer registration reviews. Swap dealer examinations. Other entity registration, reviews, or examinations, or other regulatory services provided by the Commission. Fees assessed shall— be reasonably related to the cost to the Commission of providing the services of the Commission; take into consideration the full-time equivalent number of employees performing the services, overhead costs, and other factors that the Commission determines are necessary in the public interest; support market access for smaller market participants hedging or mitigating commercial or agricultural risk, including farmers and ranchers; and minimize negative impacts on market liquidity and maintain the efficiency, competitiveness, and financial integrity of futures and swaps markets in the United States.
The Commission shall collect fees paid in accordance with paragraph
(2)in a manner and within such time as determined by the Commission. Not later than 60 days after the date on which a law providing a regular appropriation to the Commission for a fiscal year is enacted, the Commission shall publish in the Federal Register— notices of the fee rates for the fiscal year, including any estimates or projections on which the fees are based; and a schedule of fees for the fiscal year, including an explanation of the method used for calculating applicable fee rates. Fees collected under subsection
(a)for any fiscal year— shall be deposited and credited as offsetting collections to the account providing appropriations to the Commission; and except as provided in subsection (e), shall not be collected or available for obligation for any fiscal year except to the extent provided in advance in appropriation Acts. No fees collected under subsection
(a)shall be deposited and credited as general revenue of the Treasury. For each fiscal year, the Commission shall by order set the fees applicable under subsection
(a)for the fiscal year at rates that are reasonably likely to produce aggregate fee collections under this section that are equal to the costs to the Federal Government of the annual appropriation to the Commission by Congress. For each fiscal year, the Commission shall determine, not later than March 1 of the fiscal year, whether, based on the actual fees collected during the first 5 months of the fiscal year, the collections generated under the fee rates determined under paragraph
(1)for the fiscal year are reasonably likely to be 10 percent (or more) greater or less than the annual appropriation to the Commission for the fiscal year. If the Commission makes an affirmative determination, the Commission shall by order, not later than March 1, adjust the fees for the fiscal year to rates that are reasonably likely to produce aggregate fee collections under this section that are equal to the cost to the Federal Government of the annual appropriation to the Commission by Congress. The fee rates shall be assessed based on the same factors described in subsection (a). If on the first day of a fiscal year a regular appropriation to the Commission has not been enacted, the Commission shall continue to collect (as offsetting collections) the fees and assessments under subsection
(a)at the rates in effect on September 30 of the preceding fiscal year, until 90 days after the date a regular appropriation is enacted. . Section 2(d) of the Commodity Exchange Act ( 7 U.S.C. 2(d) ) is amended by striking and 9 and inserting 9, and 11 . Section 4(c)(1)(A)(i)(I) of the Commodity Exchange Act ( 7 U.S.C. 6(c)(1)(A)(i)(I) ) is amended by inserting 11, after 8e, . Section 15(a)(3) of the Commodity Exchange Act ( 7 U.S.C. 19(a)(3) ) is amended by adding at the end the following: An action under section 11. .
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