I 

116TH CONGRESS 

1ST SESSION H. R. 4251 

To amend the Commodity Exchange Act to provide greater protection of 

proprietary information of other registered entities, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

SEPTEMBER 9, 2019 

Mrs. HAYES introduced the following bill; which was referred to the 

Committee on Agriculture 

A BILL 

To amend the Commodity Exchange Act to provide greater 

protection of proprietary information of other registered 

entities, 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. DISCLOSURE OF REQUIRED DATA OF OTHER 

4 REGISTERED ENTITIES. 

5 Section 8 of the Commodity Exchange Act (7 U.S.C. 

6 12) is amended by adding at the end the following: 

7 ‘‘(j) DISCLOSURE OF REQUIRED DATA OF OTHER

8 REGISTERED ENTITIES.— 

9 ‘‘(1) Except as provided in this subsection, the 

10 Commission may not be compelled to disclose any 


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1 proprietary information provided to the Commission, 

2 except that nothing in this subsection— 

3 ‘‘(A) authorizes the Commission to with4 hold information from Congress; or 

5 ‘‘(B) prevents the Commission from— 

6 ‘‘(i) complying with a request for in7 formation from any other Federal depart8 ment or agency, any State or political sub9 division thereof, or any foreign government 

10 or any department, agency, or political 

11 subdivision thereof requesting the report or 

12 information for purposes within the scope 

13 of its jurisdiction, upon an agreement of 

14 confidentiality to protect the information 

15 in a manner consistent with this paragraph 

16 and subsection (e); or 

17 ‘‘(ii) making a disclosure made pursu18 ant to a court order in connection with an 

19 administrative or judicial proceeding 

20 brought under this Act, in any receivership 

21 proceeding involving a receiver appointed 

22 in a judicial proceeding brought under this 

23 Act, or in any bankruptcy proceeding in 

24 which the Commission has intervened or in 

25 which the Commission has the right to apVerDate Sep 11 2014 01:34 Sep 10, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H4251.IH H4251

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1 pear and be heard under title 11 of the 

2 United States Code. 

3 ‘‘(2) Any proprietary information of a com4 modity trading advisor or commodity pool operator 

5 ascertained by the Commission in connection with 

6 Form CPO–PQR, Form CTA–PR, and any suc7 cessor forms thereto, shall be subject to the same 

8 limitations on public disclosure, as any facts 

9 ascertained during an investigation, as provided by 

10 subsection (a); provided, however, that the Commis11 sion shall not be precluded from publishing aggre12 gate information compiled from such forms, to the 

13 extent such aggregate information does not identify 

14 any individual person or firm, or such person’s pro15 prietary information. 

16 ‘‘(3) For purposes of section 552 of title 5, 

17 United States Code, this subsection, and the infor18 mation contemplated herein, shall be considered a 

19 statute described in subsection (b)(3)(B) of such 

20 section 552. 

21 ‘‘(4) For purposes of the definition of propri22 etary information in paragraph (5), the records and 

23 reports of any client account or commodity pool to 

24 which a commodity trading advisor or commodity 

25 pool operator registered under this title provides 


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1 services that are filed with the Commission on Form 

2 CPO–PQR, CTA–PR, and any successor forms 

3 thereto, shall be deemed to be the records and re4 ports of the commodity trading advisor or com5 modity pool operator, respectively. 

6 ‘‘(5) For purposes of this section, proprietary 

7 information of a commodity trading advisor or com8 modity pool operator includes sensitive, non-public 

9 information regarding— 

10 ‘‘(A) the commodity trading advisor, com11 modity pool operator or the trading strategies 

12 of the commodity trading advisor or commodity 

13 pool operator; 

14 ‘‘(B) analytical or research methodologies 

15 of a commodity trading advisor or commodity 

16 pool operator; 

17 ‘‘(C) trading data of a commodity trading 

18 advisor or commodity pool operator; and 

19 ‘‘(D) computer hardware or software con20 taining intellectual property of a commodity 

21 trading advisor or commodity pool operator.’’. 

Æ 


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