II 

116TH CONGRESS 

2D SESSION S. 4995 

To amend the Commodity Exchange Act to modify the Commodity Futures 

Trading Commission Customer Protection Fund, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

DECEMBER 9, 2020 

Mr. GRASSLEY (for himself, Ms. HASSAN, Ms. ERNST, and Ms. BALDWIN) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry 

A BILL 

To amend the Commodity Exchange Act to modify the Commodity Futures Trading Commission Customer Protection Fund, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘CFTC Fund Manage5 ment Act’’. 

6 SEC. 2. COMMODITY FUTURES TRADING COMMISSION CUS7 TOMER PROTECTION FUND. 

8 Section 23(g) of the Commodity Exchange Act (7 

9 U.S.C. 26(g)) is amended— 


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1 (1) in paragraph (2)— 

2 (A) in subparagraph (A), by striking ‘‘(a); 

3 and’’ and inserting ‘‘(b);’’; 

4 (B) in subparagraph (B), by striking the 

5 period at the end and inserting a semicolon; 

6 and 

7 (C) by adding at the end the following: 

8 ‘‘(C) the funding of educational initiatives 

9 designed to provide information on the incen10 tives and protections available to customers 

11 under this section; and 

12 ‘‘(D) the funding of administrative and 

13 salary expenses necessary for personnel to carry 

14 out the activities described in subparagraphs 

15 (A) through (C).’’; 

16 (2) in paragraph (3)— 

17 (A) in subparagraph (A), by striking 

18 ‘‘$100,000,000’’ and inserting ‘‘$250,000,000’’; 

19 (B) by redesignating subparagraphs (A) 

20 through (C) as clauses (i) through (iii), respec21 tively, and indenting appropriately; 

22 (C) in the matter preceding clause (i) (as 

23 so redesignated), by striking ‘‘There shall’’ and 

24 inserting the following: 

25 ‘‘(A) IN GENERAL.—There shall’’; 


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1 (D) in subparagraph (A)(ii) (as so des2 ignated), by striking ‘‘subparagraph (A)’’ and 

3 inserting ‘‘clause (i)’’; and 

4 (E) by adding at the end the following: 

5 ‘‘(B) SEPARATE ACCOUNT FOR EDUCATION

6 INITIATIVES AND ADMINISTRATIVE EX7 PENSES.— 

8 ‘‘(i) IN GENERAL.—Any amounts con9 tained in, deposited into, or credited to the 

10 Fund under subparagraph (A) may be de11 posited into or credited to a separate ac12 count in the Fund described in clause (ii), 

13 unless the balance of the separate account 

14 at the time the amounts are deposited or 

15 credited exceeds $10,000,000. 

16 ‘‘(ii) USE OF SEPARATE ACCOUNT.— 

17 The separate account referred to in clause 

18 (i) shall be available to the Commission, 

19 without further appropriation or fiscal year 

20 limitation, for the purposes described in 

21 subparagraphs (B) through (D) of para22 graph (2).’’; and 

23 (3) in paragraph (5)— 

24 (A) in subparagraph (H), by striking 

25 ‘‘and’’ at the end; and 


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1 (B) by striking subparagraph (I) and in2 serting the following: 

3 ‘‘(I) a complete set of audited financial 

4 statements, including a balance sheet, income 

5 statement, and cash flow analysis, completed by 

6 an independent auditor, of the account in the 

7 Fund available for the payment of awards to 

8 whistleblowers in accordance with paragraph 

9 (2)(A); and 

10 ‘‘(J) a complete set of audited financial 

11 statements, including a balance sheet, income 

12 statement, and cash flow analysis, completed by 

13 an independent auditor, of the separate account 

14 for education initiatives and administrative ex15 penses described in paragraph (3)(B).’’. 

Æ 


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