To protect investors in futures contracts.
USA115th CongressHR-316| House
| Updated: 1/26/2017
Michael E. Capuano
Democratic Representative
Massachusetts
Commodity Markets, Digital Assets, and Rural Development Subcommittee, Agriculture Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Futures Investor Protection Act This bill establishes the Futures Investor Protection Corporation (FIPC) as a nonprofit membership corporation for all futures commission merchants registered with the Commodity Futures Trading Commission (CFTC). In general, the FIPC's powers and duties shall mirror those of the Security Investors Protection Corporation (the nonprofit membership corporation for registered broker-dealers). In addition, the bill amends the Commodity Exchange Act to establish suitability rules with respect to recommendations by a futures commission merchant to a customer. The CFTC must review certain guidelines regarding proof of claims, as specified by the bill.
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Timeline
Introduced in House
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Finance and Financial Sector
Administrative law and regulatory proceduresBanking and financial institutions regulationCommodities marketsCommodity Futures Trading CommissionCongressional oversightConsumer affairsFinancial services and investmentsGovernment corporations and government-sponsored enterprisesGovernment studies and investigationsUser charges and fees
To protect investors in futures contracts.
USA115th CongressHR-316| House
| Updated: 1/26/2017
Futures Investor Protection Act This bill establishes the Futures Investor Protection Corporation (FIPC) as a nonprofit membership corporation for all futures commission merchants registered with the Commodity Futures Trading Commission (CFTC). In general, the FIPC's powers and duties shall mirror those of the Security Investors Protection Corporation (the nonprofit membership corporation for registered broker-dealers). In addition, the bill amends the Commodity Exchange Act to establish suitability rules with respect to recommendations by a futures commission merchant to a customer. The CFTC must review certain guidelines regarding proof of claims, as specified by the bill.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Michael E. Capuano
Democratic Representative
Massachusetts
Commodity Markets, Digital Assets, and Rural Development Subcommittee, Agriculture Committee
Finance and Financial Sector
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresBanking and financial institutions regulationCommodities marketsCommodity Futures Trading CommissionCongressional oversightConsumer affairsFinancial services and investmentsGovernment corporations and government-sponsored enterprisesGovernment studies and investigationsUser charges and fees