Over-the-Counter Speculation Act
Latest action · Jul 11, 2008 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 11, 2008
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Over-the-Counter Speculation Act - Amends the Commodity Exchange Act to authorize the Commodity Futures Trading Commission (CFTC), in the case of a major market disturbance, to require any trader required to report under this Act to take action to maintain or restore orderly trading in any contract listed for trading on a registered entity, including: (1) liquidation of any over-the-counter transaction; and (2) fixing of any limit that may apply to a market position involving any over-the-counter transaction acquired in good faith before the date of the CFTC's determination of a major market disturbance.
Defines "major market disturbance" and "over-the-counter transaction."
Sets forth reporting and recordkeeping requirements.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Jul 11, 2008 to Jul 21, 2008; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Dianne Feinstein | Original | Jul 11, 2008 |
| R-MN | Norm Coleman | Jul 21, 2008 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Agriculture, Nutrition, and Forestry Committee | Referred Jul 11, 2008 |
Actions 3
Everything that happened, newest first.
- Jul 11, 2008Introduced in Senate
- Jul 11, 2008Sponsor introductory remarks on measure. (CR S6607-6608)
- Jul 11, 2008Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S6607Summaries S6608 | Carl Levin D-MI | Jul 11, 2008 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Commodity Exchange Act to provide for the oversight of large trades of over-the-counter energy and agricultural contracts to prevent price manipulation and excessive speculation, and for other purposes.
- Short Titles as Introduced
- Over-the-Counter Speculation Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jul 11, 2008Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
