Commodity Exchange Commission Act

Commodities Exchange Commission Act - Establishes a Commodity Exchange Commission, composed of five commissioners appointed by the President by and with the advice and consent of the Senate, as an independent agency in the executive branch of the Government.

Transfers specified functions from the Secretary of Agriculture to the Commission and delegates enumerated housekeeping functions to the Chairman. Authorizes the employment of persons without regard to Civil Service laws.

Provides, with regard to rules governing registration of Commission merchants and brokers, that if after requesting a contract market to make specified changes in its rules and practices, the contract market has not made the changes, and that such changes are necessary, the Commission may alter the rules of such contract market to effect changes in specified areas.

Requires that contract markets serve an economic purpose. Prohibits the acceptance of orders by unregistered associates of futures commission merchants. Provides procedures for registration of such merchants.

States that no member of a contract market shall execute any order for future delivery and on the same intentionally enter into any transaction for future delivery in such commodity for any account in which such member has trading discretion, with specified execeptions.

Provides that if any contract market is not enforcing or is violating any of the provisions of this Act, the commission may enter an order directing the such contract market, director, officer, agent, or employee to cease ad desist from such violation and assess a civil penalty of not more than $100,000ffor each such violation. Increases the amount of specific penalities for violations of this Act. Empowers the Commission with injunctive authority to restrain potential violations of this Act.

Makes provisions for ancillary regulations of cash markets. Direct the Comptroller General of the United States to conduct reviews and audits of commission and make reports thereon. Directs the Commission to establish an Office of Market Research and Information monitor, investigate and study commodities trading and publish such information as in the judgement of the Commission will (1) facilitate orderly trading, (2) reflect the the true state of supply and demand, (3) reduce speculation, and be in the public interest.

Penalizes, with treble damages, the use of confidential information in violation of this Act