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

Bill: 116-hr-4325
Sponsor: full_name: Rep. Van Drew, Jefferson [D-NJ-2]
Introduced: 2019-09-12
Policy area: Finance and Financial Sector
Subjects: Business records

Commodities markets

Commodity Futures Trading Commission

Congressional oversight

Criminal investigation, prosecution, interrogation

Foreign and international corporations

Government information and archives

Government studies and investigations

Lawyers and legal services

Right of privacy

U.S. and foreign investments
Latest action: action_date: 2019-09-25
text: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Summaries:
action_date: 2019-09-12
action_desc: Introduced in House
text: <p>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.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 4325 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.

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. .