The House Agriculture Committee passed legislation to reauthorize the Commodity Futures Trading Commission through 2025. H.R.Bill 4895 passed by voice vote on Wednesday morning.
“The bill helps strengthen our financial market infrastructure and makes it more resilient,” says Ag Committee Chair Collin Peterson. “It also combats fraud and promotes cooperation among the regulators. What’s even more important to me is that it was put together in a bipartisan way that sends a strong message to the Senate.”
Peterson says the people that look to U.S. markets for integrity don’t care about political wins and losses, but rather expect legislators to conduct the business of the committee.
The bill includes system safeguard requirements for clearinghouses, trading platforms, and swap data repositories.
It also clarifies provisions for relief in the event of broker bankruptcy.
The bill adds whistleblower protections for employees of organizations that fall under CFTC jurisdiction, as well as enables further cooperation between the CFTC and international regulatory bodies.
