S. 1354: Improved Financial and Commodity Markets Oversight and Accountability Act

111th Congress · introduced 2009-06-25 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2009-06-25 · official record
Who proposed it: Sen. Menendez, Robert [D-NJ] · 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 Homeland Security and Governmental Affairs. 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

Improved Financial and Commodity Markets Oversight and Accountability Act

Plain summary

Improved Financial and Commodity Markets Oversight and Accountability Act - Amends the Inspector General Act of 1978 to include the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission (CFTC), the National Credit Union Administration (NCUA), the Pension Benefit Guaranty Corporation (PBGC), and the Securities and Exchange Commission (SEC) as establishments the Inspector Generals of which shall be appointed by the President. Applies existing pay requirements under the Inspector General Reform Act of 2008 to the Inspectors General of such entities. Permits such Inspectors General to select, appoint, and employ such officers and employees as necessary and to obtain services of experts or consultants. Authorizes such Inspectors General to subpoena records and testimony necessary in the performance of their assigned functions. Requires the heads of those entities to: (1) take action to address deficiencies identified by their Inspector General; or (2) certify to both houses of Congress that no action is necessary or appropriate.

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

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

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

What does this mean? (plain words)

Official text

Improved Financial and Commodity Markets Oversight and Accountability Act

Source: Congressional Research Service summary (Introduced in Senate)

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

Officials and money

Sponsor: Sen. Menendez, Robert [D-NJ] · 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 (2)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
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 Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s1354.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s1354 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111