Title: Aluminum Pricing Examination Act
Policy area: Finance and Financial Sector

Summary:
Aluminum Pricing Examination Act or the APEX Act
This bill extends the jurisdiction of the Commodity Futures Trading Commission (CFTC) to include the markets for aluminum premiums. Specifically, the CFTC has jurisdiction over (1) the process and manner in which reference prices for such premiums are set or reported, and (2) whether the mechanism for setting such reference prices is fair and transparent.
Additionally, the CFTC must consult with the Department of Justice regarding relevant information, including allegations of anticompetitive conduct.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2698 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 2698

To extend the jurisdiction of the Commodity Futures Trading Commission 
to include oversight of markets which set reference prices for aluminum 
                   premiums, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 20, 2021

    Mr. Lawson of Florida (for himself and Mr. Buck) introduced the 
   following bill; which was referred to the Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
To extend the jurisdiction of the Commodity Futures Trading Commission 
to include oversight of markets which set 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 
              MARKETS WHICH SET OR REPORT 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)(i) The Commission shall have jurisdiction over the markets, 
including the process, oversight, transparency, and manner in which 
reference prices for aluminum premiums are set or reported, and whether 
the mechanism for setting such reference prices is fair and 
transparent. However, nothing in this Act shall be construed to grant 
the Commission the authority to set or control prices for aluminum 
premiums.
    ``(ii)(I) 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 such a reference 
price.
    ``(II) 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) The Attorney General may cooperate with, and share relevant 
information with, the Commission, with respect to the setting of such a 
reference price, and shall review any such proposed regulation or 
guideline to ensure that the regulation or guideline is in accordance 
with the goals and purposes of the antitrust laws.
    ``(IV) The Attorney General shall transmit to the Commission the 
views of the Attorney General on any such proposed regulation or 
guideline.''.
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