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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Senate Committee on Agriculture, Nutrition, and Forestry
    IntroducedJune 10th, 2009

Bill Details

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Title

Energy Market Manipulation Prevention Act

Official Title

A bill to require the Commodity Futures Trading Commission to take certain actions to prevent the manipulation of energy markets, and for other purposes.

Summary

Energy Market Manipulation Prevention Act - Directs the Commodity Futures Trading Commission (CFTC) to eliminate excessive speculation in energy contract markets, unwarranted energy price fluctuations, or other unlawful activities that prevent energy prices from accurately reflecting supply and demand. Requires the Commission to: (1) classify immediately each bank holding company engaged in energy futures trading as a noncommercial participant subject to strict position limits; (2) require immediately hedge funds engaged in energy futures trading to register as noncommercial participants subject to strict speculation limits; (3) eliminate conflicts of interest in which one entity has a hand in predicting oil prices, operating oil assets, and buying or selling oil derivatives; and (4) revoke immediately each staff no-action letter that covers a foreign board of trade that has established trading terminals in this country to trade U.S. commodities to U.S. investors.