A bill to provide for the availability of amounts for customer education initiatives and non-awards expenses of the Commodity Futures Trading Commission Whistleblower Program, and for other purposes.
Bill: S.409 | Sponsor: Sen. Grassley, Chuck (R-IA)
Policy area: Finance and Financial Sector

Summary:
This bill expands the permissible uses of the Commodity Futures Trading Commission Customer Protection Fund to include administrative expenses.

[117th Congress Public Law 25]
[From the U.S. Government Publishing Office]



[[Page 135 STAT. 297]]

Public Law 117-25
117th Congress

                                 An Act


 
   To provide for the availability of amounts for customer education 
  initiatives and non-awards expenses of the Commodity Futures Trading 
 Commission Whistleblower Program, and for other purposes. <<NOTE: July 
                         6, 2021 -  [S. 409]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. COMMODITY FUTURES TRADING COMMISSION WHISTLEBLOWER 
                              PROGRAM.

    (a) In General.--Notwithstanding any other provision of law, there 
is established in the Treasury a separate account (referred to in this 
section as the ``account''), the amounts in which shall be available for 
the sole purposes of--
            (1) carrying out the activities described in section 
        23(g)(2)(B) of the Commodity Exchange Act (7 U.S.C. 26(g)(2)(B)) 
        (referred to in this section as ``customer education 
        initiatives''); and
            (2) funding the administrative, programmatic, and personnel 
        expenses of the Whistleblower Office and the Office of Customer 
        Education and Outreach of the Commodity Futures Trading 
        Commission (referred to in this section as the ``Commission'') 
        in carrying out section 23 of the Commodity Exchange Act (7 
        U.S.C. 26) (referred to in this section as ``non-awards 
        expenses'').

    (b) Transfers From Fund Into Account.--
            (1) In general.--Notwithstanding any other provision of law, 
        the Commission shall transfer up to $10,000,000 from the 
        Commodity Futures Trading Commission Customer Protection Fund 
        established under section 23(g)(1) of the Commodity Exchange Act 
        (7 U.S.C. 26(g)(1)) (referred to in this section as the 
        ``Fund'') into the account.
            (2) Availability.--Amounts transferred under paragraph (1) 
        shall be available for obligation without further appropriation 
        and remain available until October 1, 2022.
            (3) Remaining amounts.--Amounts remaining in the account 
        that are unobligated on October 1, 2022, shall be returned to 
        the Fund.

    (c) Requirement for Obligations.--The Commission may make 
obligations from the account only when the unobligated balance of the 
Fund is insufficient to pay non-awards expenses and expenses for 
customer education initiatives due to awards that the Commission has 
ordered under section 23(b) of the Commodity Exchange Act (7 U.S.C. 
26(b)).
    (d) Reports to Congress.--The Commission shall include in each 
report required under section 23(g)(5) of the Commodity

[[Page 135 STAT. 298]]

Exchange Act (7 U.S.C. 26(g)(5)) the same information with respect to 
the account as the Commission includes in the report with respect to the 
Fund, to the extent the information is relevant to the account.

    Approved July 6, 2021.

LEGISLATIVE HISTORY--S. 409:
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CONGRESSIONAL RECORD, Vol. 167 (2021):
            May 28, considered and passed Senate.
            June 22, considered in House.
            June 23, prior proceedings vacated; considered and passed 
                House.

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