Title: APEX Act
Policy area: Finance and Financial Sector

Summary:
Aluminum Pricing Examination Act or the APEX Act
This bill authorizes the Commodity Futures Trading Commission to set reference prices for aluminum premiums.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 1953 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                S. 1953

 To amend the Commodity Exchange Act to extend the jurisdiction of the 
    Commodity Futures Trading Commission to include the setting of 
    reference prices for aluminum premiums, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 25, 2019

  Mr. Gardner (for himself and Ms. Baldwin) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
                       Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
 To amend the Commodity Exchange Act to extend the jurisdiction of the 
    Commodity Futures Trading Commission to include the setting of 
    reference prices for aluminum premiums, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Aluminum Pricing Examination Act'' 
or the ``APEX Act''.

SEC. 2. JURISDICTION OF THE COMMODITY FUTURES TRADING COMMISSION OVER 
              THE SETTING OF REFERENCE PRICES FOR ALUMINUM PREMIUMS.

    Section 2(a)(1) of the Commodity Exchange Act (7 U.S.C. 2(a)(1)) is 
amended by adding at the end the following:
                    ``(J) Reference prices for aluminum premiums.--
                            ``(i) Definitions.--In this subparagraph:
                                    ``(I) Premium.--The term `premium' 
                                has the meaning given the term in 
                                section 1.3 of title 17, Code of 
                                Federal Regulations (or successor 
                                regulations).
                                    ``(II) Reference price.--The term 
                                `reference price' has the meaning given 
                                the term `commodity reference price' in 
                                section 20.1 of title 17, Code of 
                                Federal Regulations (or successor 
                                regulations).
                            ``(ii) Jurisdiction.--The Commission shall 
                        have exclusive jurisdiction over the setting of 
                        reference prices for aluminum premiums.
                            ``(iii) Consultation with attorney 
                        general.--
                                    ``(I) In general.--The Commission 
                                shall consult with the Attorney General 
                                on any relevant information, 
                                allegations of anticompetitive conduct, 
                                or marketplace analysis in the setting 
                                or reporting of a reference price under 
                                clause (ii).
                                    ``(II) Review by attorney 
                                general.--The Commission shall afford 
                                the Attorney General an opportunity to 
                                review any regulation or guideline 
                                proposed by the Commission in carrying 
                                out this subparagraph to ensure that 
                                the regulation or guideline is 
                                consistent with the goals and purposes 
                                of the antitrust laws.
                                    ``(III) Authorities and duties of 
                                attorney general.--The Attorney 
                                General--
                                            ``(aa) may cooperate, and 
                                        share relevant information, 
                                        with the Commission with 
                                        respect to the setting of a 
                                        reference price under clause 
                                        (ii); and
                                            ``(bb) shall--

                                                    ``(AA) review any 
                                                proposed regulation or 
                                                guideline described in 
                                                subclause (II) to 
                                                ensure that the 
                                                regulation or guideline 
                                                is consistent with the 
                                                goals and purposes of 
                                                the antitrust laws; and

                                                    ``(BB) submit to 
                                                the Commission the 
                                                analysis and opinion of 
                                                the Attorney General on 
                                                that proposed 
                                                regulation or 
                                                guideline.''.

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