United States 112th Congress Status: Died 1 R cosponsors

HR 2586 — Swap Execution Facility Clarification Act

Last action — Placed on the Union Calendar, Calendar No. 266.

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  1. ✓
    Introduced
  2. Died in session

This bill died with 112th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Swap Execution Facility Clarification Act - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC), in interpreting or defining a "security-based swap execution facility," from requiring it to: (1) have a minimum number of participants receive a bid or offer or respond to any trading system or platform functionality, (2) display or delay bids or offers for any period of time, (3) limit the means of interstate commerce used by market participants to enter into and execute swap transactions on the trading system or platform, or (4) require bids or offers on one trading system or platform operated by the swap execution facility to interact with bids or offers on another trading system or platform operated by that facility. Amends the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission (SEC), in interpreting or defining a "security-based swap execution facility," from requiring such a facility to do any of the things the CFTC is prohibited by this Act from requiring, with the exception that the SEC may not require such a facility to limit the means of interstate commerce used by market participants to enter into and execute security-based swap transactions on the method of trading functionality.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 2586 on the official United States source →

Action History

  1. Placed on the Union Calendar, Calendar No. 266.

  2. Reported (Amended) by the Committee on Agriculture. H. Rept. 112-345, Part II.

  3. House Committee on Agriculture Granted an extension for further consideration ending not later than Feb. 8, 2012.

  4. Ordered to be Reported (Amended) by Voice Vote.

  5. Committee Consideration and Mark-up Session Held.

  6. Subcommittee on General Farm Commodities and Risk Management Discharged.

  7. House Committee on Agriculture Granted an extension for further consideration ending not later than Feb. 1, 2012.

  8. Reported (Amended) by the Committee on Financial Services. H. Rept. 112-345, Part I.

  9. Ordered to be Reported (Amended) by Voice Vote.

  10. Committee Consideration and Mark-up Session Held.

  11. Forwarded by Subcommittee to Full Committee by Voice Vote .

  12. Subcommittee Consideration and Mark-up Session Held.

  13. Subcommittee Hearings Held.

  14. Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.

  15. Referred to the Subcommittee on General Farm Commodities and Risk Management.

  16. Referred to House Agriculture

  17. Referred to House Financial Services

  18. Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

What does HR 2586 do?
Swap Execution Facility Clarification Act - Amends the Commodity Exchange Act to prohibit the Commodity Futures Trading Commission (CFTC), in interpreting or defining a "security-based swap execution facility," from requiring it to: (1) have a minimum number of participants receive a bid or offer or respond to any trading system or platform functionality, (2) display or delay bids or offers for any period of time, (3) limit the means of interstate commerce used by market participants to enter into and execute swap transactions on the trading system or platform, or (4) require bids or offers on one trading system or platform operated by the swap execution facility to interact with bids or offers on another trading system or platform operated by that facility. Amends the Securities Exchange Act of 1934 to prohibit the Securities and Exchange Commission (SEC), in interpreting or defining a "security-based swap execution facility," from requiring such a facility to do any of the things the CFTC is prohibited by this Act from requiring, with the exception that the SEC may not require such a facility to limit the means of interstate commerce used by market participants to enter into and execute security-based swap transactions on the method of trading functionality.
Who sponsors HR 2586?
HR 2586 is sponsored by Scott Garrett (R).
What is the current status of HR 2586?
This bill died with 112th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 2586?
Track HR 2586 free on One Click Politics — get push/email alerts when it moves.

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