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. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. DISCLOSURE OF REQUIRED DATA OF OTHER 
REGISTERED ENTITIES. 
Section 8 of the Commodity Exchange Act (7 U.S.C. 
12) is amended by adding at the end the following: 
‘‘(j) DISCLOSURE OF REQUIRED DATA OF OTHER 
REGISTERED ENTITIES.— 
‘‘(1) Except as provided in this subsection, the 
Commission may not be compelled to disclose any 
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proprietary information provided to the Commission, 
except that nothing in this subsection— 
‘‘(A) authorizes the Commission to with-
hold information from Congress; or 
‘‘(B) prevents the Commission from— 
‘‘(i) complying with a request for in-
formation from any other Federal depart-
ment or agency, any State or political sub-
division thereof, or any foreign government 
or any department, agency, or political 
subdivision thereof requesting the report or 
information for purposes within the scope 
of its jurisdiction, upon an agreement of 
confidentiality to protect the information 
in a manner consistent with this paragraph 
and subsection (e); or 
‘‘(ii) making a disclosure made pursu-
ant to a court order in connection with an 
administrative 
or 
judicial 
proceeding 
brought under this Act, in any receivership 
proceeding involving a receiver appointed 
in a judicial proceeding brought under this 
Act, or in any bankruptcy proceeding in 
which the Commission has intervened or in 
which the Commission has the right to ap-
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pear and be heard under title 11 of the 
United States Code. 
‘‘(2) Any proprietary information of a com-
modity trading advisor or commodity pool operator 
ascertained by the Commission in connection with 
Form CPO–PQR, Form CTA–PR, and any suc-
cessor forms thereto, shall be subject to the same 
limitations on public disclosure, as any facts 
ascertained during an investigation, as provided by 
subsection (a); provided, however, that the Commis-
sion shall not be precluded from publishing aggre-
gate information compiled from such forms, to the 
extent such aggregate information does not identify 
any individual person or firm, or such person’s pro-
prietary information. 
‘‘(3) For purposes of section 552 of title 5, 
United States Code, this subsection, and the infor-
mation contemplated herein, shall be considered a 
statute described in subsection (b)(3)(B) of such 
section 552. 
‘‘(4) For purposes of the definition of propri-
etary information in paragraph (5), the records and 
reports of any client account or commodity pool to 
which a commodity trading advisor or commodity 
pool operator registered under this title provides 
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services that are filed with the Commission on Form 
CPO–PQR, CTA–PR, and any successor forms 
thereto, shall be deemed to be the records and re-
ports of the commodity trading advisor or com-
modity pool operator, respectively. 
‘‘(5) For purposes of this section, proprietary 
information of a commodity trading advisor or com-
modity pool operator includes sensitive, non-public 
information regarding— 
‘‘(A) the commodity trading advisor, com-
modity pool operator or the trading strategies 
of the commodity trading advisor or commodity 
pool operator; 
‘‘(B) analytical or research methodologies 
of a commodity trading advisor or commodity 
pool operator; 
‘‘(C) trading data of a commodity trading 
advisor or commodity pool operator; and 
‘‘(D) computer hardware or software con-
taining intellectual property of a commodity 
trading advisor or commodity pool operator.’’. 
Æ 
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