PlainBillCongress, translated.Legislation. Context. Public interest.Placed on the Union Calendar, Calendar No. 270.
Congressional Research Service
Version 17 · Reported to House with amendment(s) · Feb 8, 2012
Protecting Main Street End-Users From Excessive Regulation - (Sec. 2) Amends the Commodity Exchange Act to revise the current exception to the definition of "swap dealer" to state that, in determining whether a person is a "swap dealer," no consideration shall be given to any transaction entered into for the person's own account for the purpose of hedging or mitigating commercial risk.
Directs the Commodity Futures Trading Commission (CFTC) to adopt standards distinguishing: (1) the activities of a swap dealer specified in current law, and (2) entering into swaps for a person's own account in order to achieve its own trading objectives as determined by the CFTC.
Directs the CFTC to exempt from designation as a swap dealer an entity that enters into swap dealing transactions with or on behalf of its customers if the aggregate gross notional amount of the outstanding swap dealing transactions entered into over the course of the preceding calendar year does not exceed $3 billion (or a greater amount, as market conditions warrant), adjusted for inflation.
Showing the opening paragraphs of the official summary.
(Sec. 3) States that this Act shall be implemented: (1) without regard to federal law regarding coordination of federal information policy or rulemaking requirements concerning notice and comment, and (2) through promulgation of an interim final rule.
People & committees
Rep. Hultgren, Randy [R-IL-14] · R–IL
Legislative record
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Placed on the Union Calendar, Calendar No. 270.
Reported (Amended) by the Committee on Agriculture. H. Rept. 112-391.
Reported (Amended) by the Committee on Agriculture. H. Rept. 112-391.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Agriculture.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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