US Congress House Bill 316 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 5 2017 - 25% progression, died in committee
Action: 2017-01-26 - Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Pending: House Commodity Exchanges, Energy, and Credit Committee
Text: Latest bill text (Introduced) [PDF]

Futures Investor Protection Act This bill establishes the Futures Investor Protection Corporation (FIPC) as a nonprofit membership corporation for all futures commission merchants registered with the Commodity Futures Trading Commission (CFTC). In general, the FIPC's powers and duties shall mirror those of the Security Investors Protection Corporation (the nonprofit membership corporation for registered broker-dealers). In addition, the bill amends the Commodity Exchange Act to establish suitability rules with respect to recommendations by a futures commission merchant to a customer. The CFTC must review certain guidelines regarding proof of claims, as specified by the bill.

Futures Investor Protection Act

Rep. Michael Capuano [D-MA]

Date	Chamber	Action
2017-01-26	House	Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
2017-01-05	House	Referred to the House Committee on Agriculture.
2017-01-05	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/316/all-info
Text	https://www.congress.gov/115/bills/hr316/BILLS-115hr316ih.pdf