This bill allows the Commodities and Futures Trading Commission (CFTC) to consider certain property as customer property for purposes of distribution priority in the event of bankruptcy of a commodities broker. Specifically, the CFTC may provide by rule that cash, securities, or other property including trading or operating accounts of the broker and commodities held in inventory by the broker are considered customer property, but only if other customer property is insufficient to satisfy the net equity claims of public customers.
Placed on the Union Calendar, Calendar No. 254.
Referred to the House Committee on Agriculture.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
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