United States 113th Congress Status: Died 1 D cosponsors

HR 3009 — Futures Investor Protection Act

Last action — Referred to the House Committee on Agriculture.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 113th Congress. It reached “In Committee” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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

Futures Investor Protection Act - Establishes the Futures Investor Protection Corporation (FIPC) as a nonprofit corporation, which shall be neither an agency nor establishment of the federal government. Declares FIPC to be a membership corporation whose members comprise all persons registered as a futures commission merchant with the Commodity Futures Trading Commission (CFTC). Grants FIPC all powers conferred upon the Security Investors Protection Corporation (SIPC). Sets forth FIPC corporate structure. Requires FIPC to: (1) establish, and make deposits into and payments from a FIPC fund in the same manner in which SIPC has established and is authorized to make deposits into and payments from the SIPC fund; and (2) impose upon its membership assessments subject to the same rules that apply to imposition of assessments upon SIPC members. Amends the Commodity Exchange Act to prescribe suitability rules governing a futures commission merchant's recommendations for a customer. Grants the CFTC enforcement powers. Directs the CFTC to review specified guidelines governing establishing account classes and determining the basis for pro rata shares (proof of claims guidelines).

Bill Text

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Read HR 3009 on the official United States source →

Action History

  1. Referred to the House Committee on Agriculture.

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 3009 do?
Futures Investor Protection Act - Establishes the Futures Investor Protection Corporation (FIPC) as a nonprofit corporation, which shall be neither an agency nor establishment of the federal government. Declares FIPC to be a membership corporation whose members comprise all persons registered as a futures commission merchant with the Commodity Futures Trading Commission (CFTC). Grants FIPC all powers conferred upon the Security Investors Protection Corporation (SIPC). Sets forth FIPC corporate structure. Requires FIPC to: (1) establish, and make deposits into and payments from a FIPC fund in the same manner in which SIPC has established and is authorized to make deposits into and payments from the SIPC fund; and (2) impose upon its membership assessments subject to the same rules that apply to imposition of assessments upon SIPC members. Amends the Commodity Exchange Act to prescribe suitability rules governing a futures commission merchant's recommendations for a customer. Grants the CFTC enforcement powers. Directs the CFTC to review specified guidelines governing establishing account classes and determining the basis for pro rata shares (proof of claims guidelines).
Who sponsors HR 3009?
HR 3009 is sponsored by Michael Capuano (D).
What is the current status of HR 3009?
This bill died with 113th Congress. It reached “In Committee” 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 3009?
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Last checked for changes about 18 hours ago · updated continuously

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