H.R. 6976: Preventing Manipulation in Commodity Markets Act of 2008

110th Congress · introduced 2008-09-18 · Agriculture and Food · Latest: Sponsor introductory remarks on measure. (CR E1851)

federal

Follow this bill, step by step

Where it came from: introduced 2008-09-18 · official record
Who proposed it: Rep. Tauscher, Ellen O. [D-CA-10] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Sponsor introductory remarks on measure. (CR E1851) 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

Preventing Manipulation in Commodity Markets Act of 2008

Plain summary

Preventing Manipulation in Commodity Markets Act of 2008 - Amends the Commodity Exchange Act to define "energy commodity." Prohibits the Commodity Futures Trading Commission (CFTC) from permitting a foreign board of trade to provide its U.S-located members with access to the CFTC electronic trading system and order matching system for energy or agricultural commodities unless such board meets requirements similar to those imposed upon U.S. exchanges. Subjects swap transactions, transactions for agricultural and energy commodities, and large traders in over-the-counter contracts to reporting and recordkeeping requirements. Directs the Commission to: (1) set position limits for any one person with respect to designated contract markets, derivative transaction execution facilities, and electronic trading facilities; (2) convene a Position Limit Agricultural Advisory Group and a Position Limit Energy Group; (3) appoint at least 100 new full-time employees; (4) review prior actions to ensure compliance with this Act; and (5) review over-the-counter markets. Revises the core principles applicable to position limits for contracts in agricultural and energy commodities to require position limits for speculators. Directs the Government Accountability Office (GAO) to conduct a study of: (1) the international regime for regulating the trading of energy commodity futures and derivatives; and (2) speculators' effects on agriculture and energy futures markets and prices. Directs the Commission to: (1) require regular reporting of fungible over-the-counter agricultural and energy transactions; and (2) determine if such transactions have the potential to disrupt market liquidity or cause market or price disturbances, and if so, to use its discretion to impose position limits. Authorizes the Commission to use expedited procedures to carry out this Act.

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

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What does this mean? (plain words)

Official text

Preventing Manipulation in Commodity Markets Act of 2008

Source: Congressional Research Service summary (Introduced in House)

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

Officials and money

Sponsor: Rep. Tauscher, Ellen O. [D-CA-10] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

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.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110hr6976.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/hr>

Record fed-us-cong110-hr6976 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110