Commodity Futures Modernization Act of 2000
Latest action. Referred to the subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on Finance & Hazardous Materials for a period to be subsequently determined by the Chairman..
Commodity Futures Modernization Act of 2000 - Title I: Commodity Futures Modernization - Amends the Commodity Exchange Act to authorize appropriations for authorities and activities under such Act. Revises specified provisions, including: (1) over-the-counter derivatives; (2) futures exchange regulation; (3) contracts; (4) prohibited transactions; and (5) boards of trade. Title II: Coordinated Regulation of Security Futures Products - Subtitle A: Securities Law Amendments - Amends the Securities Exchange Act of 1934 respecting: (1) regulatory relief for markets and intermediaries trading security futures products; and (2) and interagency cooperation. Subtitle B: Amendments to the Commodity Exchange Act - Amends the Commodity Exchange Act respecting Securities and Exchange Commission jurisdiction. Title III: Legal Certainty for Swap Agreements - Amends the Gramm-Leach-Bliley Act, the Securities Act of 1933, and the Securities Exchange Act of 1934 respecting swap agreements. Title IV: Regulatory Responsibility for Bank Products - Legal Certainty for Bank Products Act of 2000 - Excludes specified banking products and swap agreements from Commodity Futures Exchange Commission coverage.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on December 14, 2000. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on December 14, 2000: Referred to the Subcommittee on Finance & Hazardous Materials for a period to be subsequently determined by the Chairman..
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 106th Congress (1999-00), 580 of the 9,158 bills and joint resolutions introduced became law, about 6.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
THOMAS EWING (R-IL) introduced it on December 14, 2000, and 4 members have since signed on as cosponsors.
They come from both major parties: 1 Democrat, 3 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on December 14, 2000, 9448 days ago. The most recent recorded action was 9448 days ago, on December 14, 2000.
Measures do not carry over. Anything the 106th Congress has not finished by January 3, 2001 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers