H.R. 5768: To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission authority over off-exchange retail foreign currency transactions, and for other purposes.

110th Congress · introduced 2008-04-10 · Finance and Financial Sector · Latest: Referred to the Subcommittee on General Farm Commodities and Risk Management.

federal

Follow this bill, step by step

Where it came from: introduced 2008-04-10 · official record
Who proposed it: Rep. Frelinghuysen, Rodney P. [R-NJ-11] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the Subcommittee on General Farm Commodities and Risk Management. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission authority over off-exchange retail foreign currency transactions, and for other purposes.

Plain summary

CFTC Improvement Act of 2008 - Amends the Commodity Exchange Act to revise Commodity Futures Trading Commission (CFTC) jurisdiction over certain agreements, contracts, and transactions in retail foreign currency. Extends coverage to certain future commissions merchants (and affiliated persons) and retail foreign exchange dealers. Requires them to register with the CFTC in order to solicit or accept orders from any person that is not an eligible contract participant in connection with such agreements, contracts, or transactions. Directs the CFTC to maintain a liaison with the Department of Justice to coordinate civil and criminal investigations and prosecutions of violations of the Act. Revises the prohibition against contracts designed to defraud or mislead. Declares that the requirements of such prohibition do not obligate any person, in connection with a transaction, to disclose to another person in the transaction any nonpublic information that may be material to the market price, rate, or level of the commodity or transaction, except as necessary to make any statement to such other person not misleading in any material respect. Increases: (1) the civil penalty for market manipulation to $1 million, or triple the monetary gain for each such violation; and (2) the criminal penalty for market manipulation from five to ten years imprisonment Authorizes appropriations for the CFTC through FY2013. Requires the agencies represented on the President's Working Group on Financial Markets to work to ensure that the Securities and Exchange Commission (SEC), and the CFTC, have taken the actions to permit: (1) by September 30, 2008, risk-based portfolio margining for security options and security futures products; and (2) by June 30, 2008, the trading of futures on certain security indexes by resolving issues related to foreign security indexes. Sets forth standards applicable to significant price discover contracts, including: (1) price linkage; (2) arbitrage; (3) core principles applicable to significant price discovery contract; and (4) daily publication of trading information. Subjects to CFTC (large trader) reporting and recordkeeping requirements any significant price discovery contract traded or executed on an electronic trading facility.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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A “Yea” vote

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A “Nay” vote

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PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

To amend the Commodity Exchange Act to provide the Commodity Futures Trading Commission authority over off-exchange retail foreign currency transactions, and for other purposes.

Source: Congressional Research Service summary (Introduced in House)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Frelinghuysen, Rodney P. [R-NJ-11] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Agencies named in this bill

Commodity Futures Trading Commission: its federal spending and other bills that name it

Found automatically: the agency's full official name appears in the bill title. A bill can affect agencies it does not name, so this list may be incomplete.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Jurisdiction: The area or the matters a government or court has authority over.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110hr5768.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/hr>

Record fed-us-cong110-hr5768 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110