I 

116TH CONGRESS 

1ST SESSION H. R. 4696 

To provide for cooperation between the Commodity Futures Trading 

Commission and foreign regulators. 

IN THE HOUSE OF REPRESENTATIVES 

OCTOBER 16, 2019 

Mr. BOST (for himself, Mr. VAN DREW, and Mr. AUSTIN SCOTT of Georgia) 

introduced the following bill; which was referred to the Committee on Agriculture 

A BILL 

To provide for cooperation between the Commodity Futures 

Trading Commission and foreign regulators. 

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 ‘‘International Regu5 latory Cooperation Improvement Act’’. 

6 SEC. 2. INTERNATIONAL REGULATORY COOPERATION. 

7 (a) Section 1a(26) of the Commodity Exchange Act 

8 (7 U.S.C. 1a(26)) is amended by striking ‘‘futures or op9 tions’’ each place it appears and inserting ‘‘futures, swaps, 

10 or options.’’. 


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1 (b) CLARIFICATION OF MEANING OF FOREIGN FU2 TURES AUTHORITY.—Section 8 of such Act (7 U.S.C. 12) 

3 is amended by adding at the end the following: 

4 ‘‘(j) For purposes of this section, the term ‘foreign 

5 futures authority’ includes any foreign authority that is 

6 empowered under foreign law to detect, investigate, or 

7 prosecute potential violations of law.’’. 

8 (c) AUTHORITY TO PROVIDE FOOD AND INCIDENTAL

9 ASSISTANCE TO FOREIGN GUESTS HOSTED BY THE COM10 MISSION.—Section 12(b) of such Act (7 U.S.C. 16(b)) is 

11 amended by adding at the end the following: 

12 ‘‘(5) The Commission may incur expenses for 

13 consultations and meetings hosted by the Commis14 sion with foreign governmental and other regulatory 

15 officials, such expenses to include necessary logistic 

16 and administrative expenses and the expenses of 

17 Commission staff and foreign invitees in attendance 

18 including: 

19 ‘‘(A) meals; 

20 ‘‘(B) local travel and transportation; and 

21 ‘‘(C) related incidental expenses.’’. 

22 (d) TRANSFER AND ACCEPTANCE OF PERSONNEL.— 

23 Section 2(a) of such Act (7 U.S.C. 2(a)) is amended by 

24 adding at the end the following: 


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1 ‘‘(16) ASSISTANCE FROM FEDERAL AGEN2 CIES.—Any department or agency of the United 

3 States may cooperate with and provide to the Com4 mission, any assistance, including services, funds, fa5 cilities, employees, and other support services as de6 termined by the Commission to effectuate the pur7 poses and provisions of this Act. An employee from 

8 another department or agency of the United States 

9 may be detailed to the Commission on a reimburs10 able or non-reimbursable basis, and the detail shall 

11 be without interruption or loss of civil service status 

12 or privilege. 

13 ‘‘(17) ASSISTANCE FROM FOREIGN FUTURES

14 AUTHORITIES, FOREIGN GOVERNMENT AGENCIES, 

15 FOREIGN MINISTRIES, FOREIGN CENTRAL BANKS, OR

16 FOREIGN PERSONS.— 

17 ‘‘(A) IN GENERAL.—The Commission 

18 may— 

19 ‘‘(i) retain or employ officers or em20 ployees of a foreign futures authority, for21 eign government agency, foreign ministry, 

22 foreign central bank, or foreign person on 

23 a temporary basis as employees of the 

24 Commission pursuant to section 12(b) of 


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1 this Act or section 3101 or section 3109 of 

2 title 5, United States Code; and 

3 ‘‘(ii) detail officers or employees of 

4 the Commission to work on a temporary 

5 basis for any such foreign entity. 

6 ‘‘(B) RECIPROCITY AND REIMBURSE7 MENT.— 

8 ‘‘(i) RECIPROCITY NOT REQUIRED.— 

9 Assistance described in subparagraph (A) 

10 need not be provided on a reciprocal basis. 

11 ‘‘(ii) WRITTEN AGREEMENT RE12 QUIRED.—The Commission may provide 

13 and accept assistance described in sub14 paragraph (A) on a reimbursable or non15 reimbursable basis, only in accordance with 

16 a written agreement between the Commis17 sion and the foreign entity involved. 

18 ‘‘(iii) RULES APPLICABLE TO REIM19 BURSEMENTS.— 

20 ‘‘(I) FORM.—A reimbursement 

21 to, or from or on behalf of, the Com22 mission may be made in cash or in23 kind. 

24 ‘‘(II) ADVANCE REIMBURSE25 MENTS.—The Commission may proVerDate Sep 11 2014 22:53 Oct 22, 2019 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H4696.IH H4696

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1 vide an advance reimbursement to 

2 such a foreign entity, and may accept 

3 an advance reimbursement from such 

4 a foreign entity. Such an advance re5 imbursement shall be available for the 

6 services and uses set forth in the ap7 plicable written agreement. 

8 ‘‘(III) USE OF REIMBURSEMENTS

9 FROM FOREIGN ENTITIES.— 

10 ‘‘(aa) IN GENERAL.—The 

11 Commission shall credit a reim12 bursement received from such a 

13 foreign entity to the appropriate 

14 Commission appropriation, fund, 

15 or account, subject to item (bb). 

16 ‘‘(bb) USE OF ADVANCE RE17 IMBURSEMENTS.—The Commis18 sion may use such an advance re19 imbursement for direct expendi20 ture in lieu of making the credit 

21 required by item (aa). 

22 ‘‘(C) STANDARDS OF CONDUCT.—An offi23 cer or employee employed under subparagraph 

24 (A)(i) shall be subject to the provisions of law 

25 relating to ethics, conflicts of interest, or corVerDate Sep 11 2014 22:53 Oct 22, 2019 Jkt 099200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H4696.IH H4696

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1 ruption, and to any other statute governing the 

2 standards of conduct for Commission employees 

3 that are applicable to the type of appointment 

4 for the duration of the appointment.’’. 

Æ 


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