S. 3671: Over-the-Counter Swaps Speculation Limit Act

110th Congress · introduced 2008-10-01 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S10336-10337)

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Where it came from: introduced 2008-10-01 · official record
Who proposed it: Sen. Feinstein, Dianne [D-CA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. (text of measure as introduced: CR S10336-10337) 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

Over-the-Counter Swaps Speculation Limit Act

Plain summary

Over-the-Counter Swaps Speculation Limit Act - Amends the Commodity Exchange Act to direct the Commodity Futures Trading Commission (CFTC) to impose aggregate position limits on positions held on registered entities, foreign boards of trade, and each large over-the-counter transaction or class of large over-the-counter transactions that it determines to be appropriate in protecting the price discovery function of contracts under its jurisdiction. Sets forth requirements for development and imposition of aggregate position limits. Authorizes the CFTC to exempt a large over-the-counter transaction or class of large over-the-counter transactions from any aggregate position limit it has developed and imposed if it determines that the transaction is a bona fide hedging transaction. Declares such aggregate position limits applicable to the net sum of the like positions held by a person on or in: (1) registered entities; (2) foreign boards of trade; and (3) over-the-counter commodity derivatives. Authorizes the CFTC to impose a civil penalty for violations of requirements of this Act.

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

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A “Nay” vote

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What does this mean? (plain words)

Official text

Over-the-Counter Swaps Speculation Limit Act

Source: Congressional Research Service summary (Introduced in Senate)

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Officials and money

Sponsor: Sen. Feinstein, Dianne [D-CA] · 0 cosponsors

Cost estimate: No cost estimate published yet.

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.
Exemption: A rule that removes certain people, property or activities from a tax or requirement.
Jurisdiction: The area or the matters a government or court has authority over.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110s3671.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/s>

Record fed-us-cong110-s3671 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110