Sec. 315. Core principle certainty

453 words·~2 min read·/bill/115/hr/238/ih/section-315

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 5h(f) of the Commodity Exchange Act ( 7 U.S.C. 7b–3(f) ) is amended— in paragraph (1)(B), by inserting except as described in this subsection after Commission by rule or regulation ; in paragraph (2), by amending subparagraph

(D)to read as follows: have reasonable discretion in establishing and enforcing its rules related to trade practice surveillance, market surveillance, real-time marketing monitoring, and audit trail given that a swap execution facility may offer a trading system or platform to execute or trade swaps through any means of interstate commerce. A swap execution facility shall be responsible for monitoring trading in swaps only on its own facility. ; in paragraph (4)(B), by adding at the end the following: A swap execution facility shall be responsible for monitoring trading in swaps only on its own facility. ; in paragraph (6)(B)— by striking shall— and all that follows through compliance with the and insert shall monitor the trading activity on its facility for compliance with any ; and by adding at the end the following: A swap execution facility shall be responsible for monitoring positions only on its own facility. ; in paragraph (8), by striking to liquidate and all that follows and inserting to suspend or curtail trading in a swap on its own facility. ; in paragraph (13)(B), by striking 1-year period, as calculated on a rolling basis and inserting 90-day period, as calculated on a rolling basis, or conduct an orderly wind-down of its operations, whichever is greater ; and in paragraph (15)— in subparagraph (A), by adding at the end the following: The individual may also perform other responsibilities for the swap execution facility. ; in subparagraph (B)— in clause (i), by inserting , a committee of the board, after directly to the board ; by striking clauses

(iii)through

(v)and inserting the following: establish and administer policies and procedures that are reasonably designed to resolve any conflicts of interest that may arise; establish and administer policies and procedures that reasonably ensure compliance with this Act and the rules and regulations issued under this Act, including rules prescribed by the Commission pursuant to this section; and ; and by redesignating clause

(vi)as clause (v); in subparagraph (C), by striking (B)(vi) and inserting (B)(v) ; and in subparagraph (D)— in clause (i)— by striking In accordance with rules prescribed by the Commission, the and inserting The ; and by striking and sign ; and in clause (ii)— in the matter preceding subclause (I), by inserting or senior officer after officer ; by amending subclause

(I)to read as follows: submit each report described in clause

(i)to the Commission; and ; and in subclause (II), by inserting materially before accurate .

Connections1 off-index

1 reference not yet in our index

7 USC 7b–3(f)

Citation graph

cites case law

Sec. 315

Core principle certainty

Cite7 USC 7b–3(f)

Cites 1Cited by 0 across 0 sources