H. Amdt. 947 - Amendment Inserts an Additional Study to the Bill of Merit Provisions That Would Examine Whether or Not High-Frequency Trading Increases Market Volatility.

Customer Protection and End-User Relief Act

H.R. 4413 — 113^th Congress (2013–2014)

Summary

To reauthorize the Commodity Futures Trading Commission, to better protect futures customers, to provide end users with market certainty, to make basic reforms to ensure transparency and accountability at the Commission, to help farmers, ranchers, and end users manage risks to help keep consumer costs low, and for other purposes. (by CRS)

Learn More

At OpenCongress

Title

To reauthorize the Commodity Futures Trading Commission, to better protect futures customers, to provide end users with market certainty, to make basic reforms to ensure transparency and accountability at the Commission, to help farmers, ranchers, and end users manage risks to help keep consumer costs low, and for other purposes.

Other Titles

• Customer Protection and End User Relief Act
• Commodity Futures Trading Commission Reform Act
• End-User Relief and Market Certainty Act
• Futures Customer Protection Act
• Customer Protection and End User Relief Act
• Commodity Futures Trading Commission Reform Act
• End-User Relief and Market Certainty Act
• Futures Customer Protection Act
• Customer Protection and End User Relief Act
• Commodity Futures Trading Commission Reform Act
• End-User Relief and Market Certainty Act
• Futures Customer Protection Act
• Customer Protection and End User Relief Act

Sponsor

Frank D. Lucas

Co-Sponsors

• K. Michael Conaway
• Collin C. Peterson
• David Scott

Subjects

• Finance and financial sector
• Administrative law and regulatory procedures
• Banking and financial institutions regulation
• Business investment and capital
• Business records
• Commodities markets
• Commodity Futures Trading Commission
• Congressional oversight
• Consumer affairs
• Corporate finance and management
• Executive agency funding and structure
• Federal officials
• Financial services and investments
• Government information and archives
• Government studies and investigations
• Judicial review and appeals
• Licensing and registrations
• Oil and gas
• Public utilities and utility rates
• U.S. and foreign investments

Related Bills

• S. 2330 (113^th) : End-User Protection Act of 2014
• H.R. 5471 (113^th) : To Amend the Commodity Exchange Act and the Securities Exchange Act of 1934 to Specify How Clearing Requirements Apply to Certain Affiliate Transactions, and for Other Purposes.
• S. 2976 (113^th) : Derivatives End-Users Clarification Act
• H.Res. 629 (113^th) : Providing for Consideration of the Bill (H.R. 4413) to Reauthorize the Commodity Futures Trading Commission, to Better Protect Futures Customers, to Provide End Users with Market Certainty, to Make Basic Reforms to Ensure Transparency and Accountability at the Commission, to Help Farmers, Ranchers, and End Users Manage Risks to Help Keep Consumer Costs Low, and for Other Purposes.
• H.R. 4392 (113^th) : Energize Emerging Opportunities Act
• H.R. 1038 (113^th) : Public Power Risk Management Act of 2013
• H.R. 1256 (113^th) : Swap Jurisdiction Certainty Act
• H.R. 4330 (113^th) : Business Risk Planning Act
• S. 1802 (113^th) : Public Power Risk Management Act of 2013
• H.R. 5405 (113^th) : Promoting Job Creation and Reducing Small Business Burdens Act

Major Actions

Introduced	4/07/2014
Referred to Committee
Amendments (8 proposed)
Passed House	6/24/2014

Bill History

• All Votes
• All Actions
• Amendments

	Chamber/Committee	Motion	Date	Result
currently selected	House	On agreeing to the DeFazio amendment (A001) Agreed to by voice vote.	6/24/2014	PASSED by voice vote
select this vote	House	On agreeing to the DelBene amendment (A003) Agreed to by voice vote.	6/24/2014	PASSED by voice vote
select this vote	House	On agreeing to the Fincher amendment (A007) Agreed to by voice vote.	6/24/2014	PASSED by voice vote
select this vote	House	H.Amdt. 948 (Jackson Lee) to H.R. 4413: Amendment sought to require a study on entities regulated by the Commodities Futures ...	6/24/2014	This motion DID NOT PASS the House 163 voted YES 249 voted NO 20 voted present/not voting
select this vote	House	H.Amdt. 950 (Waters) to H.R. 4413: Amendment sought to prohibit judicial review of any consideration by the CFTC of the ...	6/24/2014	This motion DID NOT PASS the House 168 voted YES 242 voted NO 22 voted present/not voting
select this vote	House	H.Amdt. 951 (Moore) to H.R. 4413: Amendment sought to strike section 203, and replace it with a Sense of Congress ...	6/24/2014	This motion DID NOT PASS the House 173 voted YES 239 voted NO 20 voted present/not voting
select this vote	House	H.Amdt. 952 (Jackson Lee) to H.R. 4413: Amendment sought to provide that when a legal challenge to a CFTC regulation ...	6/24/2014	This motion DID NOT PASS the House 177 voted YES 233 voted NO 22 voted present/not voting
select this vote	House	H.Amdt. 954 (Garrett) to H.R. 4413: Amendment exempts Registered Investment Companies (RICs) that are currently registered with the Securities and ...	6/24/2014	This motion PASSED the House 252 voted YES 158 voted NO 22 voted present/not voting
select this vote	House	On Motion to Recommit with Instructions: H R 4413 Customer Protection and End User Relief Act	6/24/2014	This motion DID NOT PASS the House 191 voted YES 220 voted NO 21 voted present/not voting
select this vote	House	H.R. 4413 (113th): Customer Protection and End User Relief Act	6/24/2014	This bill PASSED the House 265 voted YES 144 voted NO 23 voted present/not voting

	Action	Date	Description
	Introduced	4/07/2014
		4/07/2014	Referred to the House Committee on Agriculture.
		4/07/2014	Introduced in House
		4/09/2014	Committee Consideration and Mark-up Session Held.
	Put on a legislative calendar	4/09/2014	Ordered to be Reported by Voice Vote.
		6/05/2014	Reported by the Committee on Agriculture. H. Rept. 113-469.
	Put on a legislative calendar	6/05/2014	Placed on the Union Calendar, Calendar No. 348.
		6/18/2014	Rules Committee Resolution H. Res. 629 Reported to House. Rule provides for consideration of H.R. 4413 with 1 hour of general debate. Motion to recommit with or without instructions allowed. The rule makes in order as original text for the purpose of amendment an amendment in the nature of a substitute consisting of the text of Rules Committee Print 113-47.
		6/19/2014	Rule H. Res. 629 passed House.
		6/23/2014	The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 4413.
		6/23/2014	Considered under the provisions of rule H. Res. 629.
		6/23/2014	Rule provides for consideration of H.R. 4413 with 1 hour of general debate. Motion to recommit with or without instructions allowed. The rule makes in order as original text for the purpose of amendment an amendment in the nature of a substitute consisting of the text of Rules Committee Print 113-47.
		6/23/2014	House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 629 and Rule XVIII.
		6/23/2014	The Speaker designated the Honorable Rob Bishop to act as Chairman of the Committee.
		6/23/2014	GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 4413.
		6/23/2014	DEBATE - Pursuant to the provisions of H. Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the DeFazio amendment No. 1.
		6/23/2014	DEBATE - Pursuant to the provisions of H. Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Jackson Lee amendment No. 2.
		6/23/2014	POSTPONED PROCEEDINGS - At the conclusion of debate on the Jackson Lee amendment No. 2, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Jackson Lee demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
		6/23/2014	DEBATE - Pursuant to the provisions of H. Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the DelBene amendment No. 3.
		6/23/2014	DEBATE - Pursuant to the provisions of H. Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Waters amendment No. 4.
		6/23/2014	POSTPONED PROCEEDINGS - At the conclusion of debate on the Waters amendment No. 4, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Waters demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
		6/23/2014	DEBATE - Pursuant to the provisions of H. Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Moore amendment No. 5.
		6/23/2014	POSTPONED PROCEEDINGS - At the conclusion of debate on the Moore amendment No. 5, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Moore demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
		6/23/2014	DEBATE - Pursuant to the provisions of H. Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Jackson Lee amendment No. 6.
		6/23/2014	POSTPONED PROCEEDINGS - At the conclusion of debate on the Jackson Lee amendment No. 6, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Jackson Lee demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
		6/23/2014	DEBATE - Pursuant to the provisions of H. Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Fincher amendment No. 7.
		6/23/2014	DEBATE - Pursuant to the provisions of H. Res. 629, the Committee of the Whole proceeded with 10 minutes of debate on the Garrett amendment No. 8.
		6/23/2014	POSTPONED PROCEEDINGS - At the conclusion of debate on the Garrett amendment No. 8, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mr. Peterson (MN) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
		6/23/2014	Mr. Lucas moved that the Committee rise.
		6/23/2014	On motion that the Committee rise Agreed to by voice vote.
		6/23/2014	Committee of the Whole House on the state of the Union rises leaving H.R. 4413 as unfinished business.
		6/23/2014
		6/23/2014	House amendment offered
		6/23/2014
		6/23/2014	House amendment offered
		6/23/2014
		6/23/2014	House amendment offered
		6/23/2014
		6/23/2014	House amendment offered
		6/23/2014
		6/23/2014	House amendment offered
		6/23/2014
		6/23/2014	House amendment offered
		6/23/2014
		6/23/2014	House amendment offered
		6/23/2014
		6/23/2014	House amendment offered
		6/24/2014	Considered as unfinished business.
		6/24/2014	The House resolved into Committee of the Whole House on the state of the Union for further consideration.
		6/24/2014	UNFINISHED BUSINESS - The Chair announced that, pursuant to clause 6 of Rule XVIII, the unfinished business was the question of adoption of amendments which had been debated earlier and on which further proceedings had been postponed.
		6/24/2014	The House rose from the Committee of the Whole House on the state of the Union to report H.R. 4413.
		6/24/2014	The previous question was ordered pursuant to the rule.
		6/24/2014	The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.
		6/24/2014	Ms. Kuster moved to recommit with instructions to the Committee on Agriculture.
		6/24/2014	DEBATE - The House proceeded with 10 minutes of debate on the Kuster motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to ensure that the Commodity Futures Trading Commission would: (1) immediately curb the role of excessive speculation in any designated facility within its jurisdiction through which oil and gasoline futures or swaps are traded to eliminate excessive speculation, price distortion, or sudden or unreasonable fluctuations or unwarranted changes in prices; (2) investigate the number of swap and security-based swap market participants that have moved their headquarters or operations out of the United States in order to avoid compliance with United States swap requirements; and (3) require overseas derivatives users to obey American laws prohibiting fraud and manipulation of American markets, pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
		6/24/2014	The previous question on the motion to recommit with instructions was ordered without objection.
		6/24/2014	Amendment (A001) offered by Mr. DeFazio.
		6/24/2014	House amendment offered/reported by : Amendment (A001) offered by Mr. DeFazio.
currently selected	Vote	6/24/2014	On agreeing to the DeFazio amendment (A001) Agreed to by voice vote.
		6/24/2014	Amendment agreed to Committee of the Whole
		6/24/2014	House amendment agreed to: On agreeing to the DeFazio amendment (A001) Agreed to by voice vote.
		6/24/2014	Amendment (A002) offered by Ms. Jackson Lee.
		6/24/2014	House amendment offered/reported by : Amendment (A002) offered by Ms. Jackson Lee.
		6/24/2014	Amendment (A003) offered by Ms. DelBene.
		6/24/2014	House amendment offered/reported by : Amendment (A003) offered by Ms. DelBene.
select this vote	Vote	6/24/2014	On agreeing to the DelBene amendment (A003) Agreed to by voice vote.
		6/24/2014	Amendment agreed to Committee of the Whole
		6/24/2014	House amendment agreed to: On agreeing to the DelBene amendment (A003) Agreed to by voice vote.
		6/24/2014	Amendment (A004) offered by Ms. Waters.
		6/24/2014	House amendment offered/reported by : Amendment (A004) offered by Ms. Waters.
		6/24/2014	Amendment (A005) offered by Ms. Moore.
		6/24/2014	House amendment offered/reported by : Amendment (A005) offered by Ms. Moore.
		6/24/2014	Amendment (A006) offered by Ms. Jackson Lee.
		6/24/2014	House amendment offered/reported by : Amendment (A006) offered by Ms. Jackson Lee.
		6/24/2014	Amendment (A007) offered by Mr. Fincher.
		6/24/2014	House amendment offered/reported by : Amendment (A007) offered by Mr. Fincher.
select this vote	Vote	6/24/2014	On agreeing to the Fincher amendment (A007) Agreed to by voice vote.
		6/24/2014	Amendment agreed to Committee of the Whole
		6/24/2014	House amendment agreed to: On agreeing to the Fincher amendment (A007) Agreed to by voice vote.
		6/24/2014	Amendment (A008) offered by Mr. Garrett.
		6/24/2014	House amendment offered/reported by : Amendment (A008) offered by Mr. Garrett.
select this vote	Vote	6/24/2014	H.Amdt. 948 (Jackson Lee) to H.R. 4413: Amendment sought to require a study on entities regulated by the Commodities Futures ...
select this vote	Vote	6/24/2014	H.Amdt. 950 (Waters) to H.R. 4413: Amendment sought to prohibit judicial review of any consideration by the CFTC of the ...
select this vote	Vote	6/24/2014	H.Amdt. 951 (Moore) to H.R. 4413: Amendment sought to strike section 203, and replace it with a Sense of Congress ...
select this vote	Vote	6/24/2014	H.Amdt. 952 (Jackson Lee) to H.R. 4413: Amendment sought to provide that when a legal challenge to a CFTC regulation ...
select this vote	Vote	6/24/2014	H.Amdt. 954 (Garrett) to H.R. 4413: Amendment exempts Registered Investment Companies (RICs) that are currently registered with the Securities and ...
select this vote	Vote	6/24/2014	On Motion to Recommit with Instructions: H R 4413 Customer Protection and End User Relief Act
select this vote	House Vote on Passage	6/24/2014	H.R. 4413 (113th): Customer Protection and End User Relief Act
		6/24/2014	Amendment failed in Committee of the Whole
		6/24/2014	Roll call votes on amendments in House
		6/24/2014	Amendment failed in Committee of the Whole
		6/24/2014	Roll call votes on amendments in House
		6/24/2014	Amendment failed in Committee of the Whole
		6/24/2014	Roll call votes on amendments in House
		6/24/2014	Amendment failed in Committee of the Whole
		6/24/2014	Roll call votes on amendments in House
		6/24/2014	Amendment agreed to Committee of the Whole
		6/24/2014	Roll call votes on amendments in House
		6/25/2014	Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

	Number	Sponsor	Date Offered	Status
currently selected	H. Amdt. 947	DeFazio, Peter [D-OR4]	June 23, 2014	Passed by voice vote on June 23, 2014.
	Amendment inserts an additional study to the bill of merit provisions that would examine whether or not high-frequency trading increases market volatility. Actions June 22, 2014, 8:00 pm ET - June 22, 2014, 8:00 pm ET - House amendment offered June 23, 2014, 8:05 pm ET - Amendment (A001) offered by Mr. DeFazio. June 23, 2014, 8:05 pm ET - House amendment offered/reported by : Amendment (A001) offered by Mr. DeFazio. June 23, 2014, 8:07 pm ET - On agreeing to the DeFazio amendment (A001) Agreed to by voice vote. June 23, 2014, 8:07 pm ET - Amendment agreed to Committee of the Whole June 23, 2014, 8:07 pm ET - House amendment agreed to: On agreeing to the DeFazio amendment (A001) Agreed to by voice vote. Full Text of this Amendment The text of this amendment is not available.
	H. Amdt. 948	Jackson Lee, Sheila [D-TX18]	June 23, 2014	Failed by voice vote on June 24, 2014.
	Amendment sought to require a study on entities regulated by the Commodities Futures Trading Commission. Show amendment details
select this vote	H. Amdt. 949	DelBene, Suzan [D-WA1]	June 23, 2014	Passed by voice vote on June 23, 2014.
	Amendment inserts language stating that a court shall affirm the CFTC's assessment of the costs and benefits of a rule and provides an exception in the case of an abuse of discretion by the Commission. Show amendment details
	H. Amdt. 950	Waters, Maxine [D-CA43]	June 23, 2014	Failed by voice vote on June 24, 2014.
	Amendment sought to prohibit judicial review of any consideration by the CFTC of the costs and benefits of its rules and orders. Show amendment details
	H. Amdt. 951	Moore, Gwen [D-WI4]	June 23, 2014	Failed by voice vote on June 24, 2014.
	Amendment sought to strike section 203, and replace it with a Sense of Congress that the Commodities Future Trading Commission is already required by law to consider costs and benefits when promulgating rules and issuing orders, and is held accountable to this requirement by courts. Show amendment details
	H. Amdt. 952	Jackson Lee, Sheila [D-TX18]	June 23, 2014	Failed by voice vote on June 24, 2014.
	Amendment sought to provide that when a legal challenge to a CFTC regulation is first reviewed by the district court, any appeal to such decision would then go to the court of appeals. Show amendment details
select this vote	H. Amdt. 953	Fincher, Stephen [R-TN8]	June 23, 2014	Passed by voice vote on June 23, 2014.
	Amendment requires the Comptroller General of the United States to conduct a study of the efficiencies in leasing and rental costs at the CFTC. Show amendment details
	H. Amdt. 954	Garrett, Scott [R-NJ5]	June 23, 2014	Passed by voice vote on June 24, 2014.
	Amendment exempts Registered Investment Companies (RICs) that are currently registered with the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940 from duplicative registration requirements with the Commodity Futures Trading Commission (CFTC) allowing the SEC to continue to have full regulatory oversight and enforcement authority over RICs. Amendment does not remove the jurisdiction and regulatory authority that the CFTC has over all futures, options and swaps transactions that the RICs invest in on behalf of their customers who are pensioners, retirees, and savers. Show amendment details