A bill to amend the Commodity Exchange Act to require a review of current exemptions granted to foreign entities in response to an attempt by a foreign authority to exercise direct supervisory authority over a domestic derivatives clearing organization.

This bill requires the Commodity Futures Trading Commission (CFTC) to respond to a foreign regulator seeking to assert authority over a U.S. derivatives clearing organization. The CFTC must do this by reviewing exemptions granted by the CFTC to foreign entities that are under the jurisdiction of that foreign authority.