To amend the Commodity Exchange Act to clarify the venue for judicial review of Commission rules, and for other purposes.

Bill: 116-hr-4246
Sponsor: full_name: Rep. Kirkpatrick, Ann [D-AZ-2]
Introduced: 2019-09-09
Policy area: Law
Subjects: Administrative law and regulatory procedures

Commodities markets

Commodity Futures Trading Commission

Government information and archives

Judicial review and appeals

Jurisdiction and venue
Latest action: action_date: 2020-01-23
text: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Summaries:
action_date: 2019-09-09
action_desc: Introduced in House
text: <p>This bill provides for the judicial review of rules issued by the Commodity Futures Trading Commission (CFTC). Specifically, a person adversely affected by a CFTC rule may obtain a review of the rule by an appropriate U.S. court of appeals.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 4246 IN THE HOUSE OF REPRESENTATIVES September 9, 2019 Mrs. Kirkpatrick introduced the following bill; which was referred to the Committee on Agriculture , and in addition to the Committee on the Judiciary , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To amend the Commodity Exchange Act to clarify the venue for judicial review of Commission rules, and for other purposes.

1. Judicial review of Commission rules The Commodity Exchange Act ( 7 U.S.C. 1 et seq.) is amended by adding at the end the following: 24. Judicial review of Commission rules (a) A person adversely affected by a rule of the Commission promulgated under this Act may obtain review of the rule in the United States Court of Appeals for the District of Columbia Circuit or the United States Court of Appeals for the circuit where the party resides or has the principal place of business, by filing in the court, within 60 days after publication in the Federal Register of the entry of the rule, a written petition requesting that the rule be set aside. (b) A copy of the petition shall be transmitted forthwith by the clerk of the court to an officer designated by the Commission for that purpose. Thereupon the Commission shall file in the court the record on which the rule complained of is entered, as provided in section 2112 of title 28, United States Code, and the Federal Rules of Appellate Procedure. (c) On the filing of the petition, the court has jurisdiction, which becomes exclusive on the filing of the record, to affirm and enforce or to set aside the rule in whole or in part. (d) The court shall affirm and enforce the rule unless the Commission’s action in promulgating the rule is found to be arbitrary, capricious, an abuse of discretion, or otherwise not in accordance with law; contrary to constitutional right, power, privilege, or immunity; in excess of statutory jurisdiction, authority, or limitations, or short of statutory right; or without observance of procedure required by law. .