Title: To amend the Commodity Exchange Act to provide greater protection of proprietary information of other registered entities, and for other purposes.
Policy area: Finance and Financial Sector

Summary:
This bill generally limits disclosure by the Commodity Futures Trading Commission of proprietary information belonging to a commodity trading advisor or commodity pool operator. However, the bill does not authorize the commission to withhold such information from law enforcement, government agencies, or Congress.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4251 Introduced in House (IH)]

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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 Representatives 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 proprietary information 
        provided to the Commission, except that nothing in this 
        subsection--
                    ``(A) authorizes the Commission to withhold 
                information from Congress; or
                    ``(B) prevents the Commission from--
                            ``(i) complying with a request for 
                        information from any other Federal department 
                        or agency, any State or political subdivision 
                        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 pursuant 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 appear and be heard under title 11 
                        of the United States Code.
            ``(2) Any proprietary information of a commodity trading 
        advisor or commodity pool operator ascertained by the 
        Commission in connection with Form CPO-PQR, Form CTA-PR, and 
        any successor 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 Commission shall not be precluded 
        from publishing aggregate information compiled from such forms, 
        to the extent such aggregate information does not identify any 
        individual person or firm, or such person's proprietary 
        information.
            ``(3) For purposes of section 552 of title 5, United States 
        Code, this subsection, and the information contemplated herein, 
        shall be considered a statute described in subsection (b)(3)(B) 
        of such section 552.
            ``(4) For purposes of the definition of proprietary 
        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 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 reports of the commodity trading 
        advisor or commodity pool operator, respectively.
            ``(5) For purposes of this section, proprietary information 
        of a commodity trading advisor or commodity pool operator 
        includes sensitive, non-public information regarding--
                    ``(A) the commodity trading advisor, commodity 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 containing 
                intellectual property of a commodity trading advisor or 
                commodity pool operator.''.
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