Title: To amend the Commodity Exchange Act to clarify treatment of privileged information after disclosure to the Commodity Futures Trading Commission, and for other purposes.
Policy area: Finance and Financial Sector

Summary:
This bill addresses the application of privileged information protections to information provided to and provided by the Commodity Futures Trading Commission (CFTC). Specifically, certain privileges are not waived by the CFTC upon providing commodity exchange information in accordance with provisions regarding disclosures to the public, Congress, federal and state authorities, and specified foreign authorities. Additionally, the CFTC may not be compelled to disclose certain privileged information obtained from a foreign futures authority. Furthermore, certain entities will not be considered to have waived privilege upon providing information to the CFTC.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4325 Introduced in House (IH)]

<DOC>






116th CONGRESS
  1st Session
                                H. R. 4325

To amend the Commodity Exchange Act to clarify treatment of privileged 
     information after disclosure to the Commodity Futures Trading 
                  Commission, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 12, 2019

 Mr. Van Drew introduced the following bill; which was referred to the 
                        Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
To amend the Commodity Exchange Act to clarify treatment of privileged 
     information after disclosure to the Commodity Futures Trading 
                  Commission, 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. PRIVILEGE RETENTION.

    Section 8 of the Commodity Exchange Act (7 U.S.C. 12) is amended--
            (1) by redesignating subsections (h) and (i) as subsections 
        (i) and (j), respectively; and
            (2) by inserting after subsection (g) the following:
    ``(h) Sharing Privileged Information With Other Authorities.--
            ``(1) Definitions.--In this subsection:
                    ``(A) Foreign law enforcement authority.--The term 
                `foreign law enforcement authority' means any foreign 
                authority that is empowered under foreign law to 
                detect, investigate, or prosecute potential violations 
                of law.
                    ``(B) Privilege.--The term `privilege' includes any 
                applicable work-product privilege, attorney-client 
                privilege, governmental privilege, or other privilege 
                recognized under Federal, State, or foreign law.
            ``(2) Privileged information provided by the commission.--
        The Commission shall not be considered to have waived any 
        privilege by transferring information to or permitting that 
        information to be used in accordance with subsection (e).
            ``(3) Nondisclosure of privileged information provided to 
        the commission.--The Commission shall not be compelled to 
        disclose privileged information obtained from any foreign 
        futures authority, or foreign law enforcement authority, if the 
        authority has in good faith determined and represented to the 
        Commission that the information is privileged.
            ``(4) Nonwaiver of privileged information provided to the 
        commission.--The entities listed in subsection (e) shall not be 
        considered to have waived any privilege by transferring 
        information to or permitting information to be used by the 
        Commission.''.
                                 <all>