S. 1691: Comprehensive Derivatives Regulation Act of 2009

111th Congress · introduced 2009-09-22 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9655-9673)

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Follow this bill, step by step

Where it came from: introduced 2009-09-22 · official record
Who proposed it: Sen. Reed, Jack [D-RI] · 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 Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9655-9673) 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

Comprehensive Derivatives Regulation Act of 2009

Plain summary

Comprehensive Derivatives Regulation Act of 2009 - Amends the Securities Exchange Act of 1934, the Securities Act of 1933, and the Gramm-Leach-Bliley Act to repeal the exclusion of swap agreements from regulatory oversight. Subjects security futures and securities futures products to the Securities Exchange Act of 1934 and the Securities Act of 1933. Requires transactions of standardized security-based swaps to take place within a registered clearing agency or a registered trade repository. Requires a significant security-based derivatives market participant to register with the Securities and Exchange Commission (SEC). Sets forth capital and margin requirements for such a participant, including recordkeeping and reporting requirements. Prohibits fraduluent, deceptive, or manipulative acts or practices in connection with transactions in security-based swaps and security derivatives. Directs the SEC to prescribe position limits held in a security-based swap or security derivative. Requires trading in security-based swaps to be executed on a national securities exchange. Amends the Commodity Futures Modernization Act of 2000 to repeal the exclusion of covered swap agreements transacted by a bank from the regulatory oversight of the Commodity Futures Trading Commission (CFTC). Amends the Commodity Exchange Act to require submission of a standardized commodity-based swap to a derivatives clearing organization pursuant to CFTC rules. Directs the CFTC to collect, consolidate, and disseminate information on transactions and positions in commodity-based swaps. Sets forth registration requirements for a derivatives clearing organization. Allocates regulatory authority over significant commodity-based derivatives market participants among the following entities: (1) a federal banking agency; (2) the Federal Housing Finance Agency (FHFA); (3) the CFTC; and (4) the SEC. Requires significant commodity-based derivatives market participants to register with the CFTC. Prescribes capital and margin requirements as well as recordkeeping and reporting requirements for such participants. Revises restrictions on excessive speculation. Prohibits fraduluent, deceptive, or manipulative acts or practices in connection with transactions in commodity-based swaps. Requires registration of commodity-based swap execution facilities. Allocates enforcement powers among the following entities with respect to commodity-based derivatives market participants: (1) the CFTC; (2) the SEC; (3) the Federal Housing Finance Agency (FHFA); and (4) the appropriate federal banking agency. Directs the CFTC and the SEC to promulgate rules: (1) requiring clearing agencies and derivatives clearing organizations to have risk management controls to assure their ability to meet settlement obligations; and (2) for determining the status of certain derivatives. Directs the Comptroller General to study and report to Congress on implementation of this Act by the CFTC and the SEC.

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

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What does this mean? (plain words)

Official text

Comprehensive Derivatives Regulation Act of 2009

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. Reed, Jack [D-RI] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Sen. Reed, Jack [D-RI] reported raising $3.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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 (4)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
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-111s1691.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>

Record fed-us-cong111-s1691 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111