Aluminum Pricing Examination Act

Bill: 117-hr-2698
Sponsor: full_name: Rep. Lawson, Al, Jr. [D-FL-5]
Introduced: 2021-04-20
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Commodities markets

Commodity Futures Trading Commission

Competition and antitrust

Department of Justice

Inflation and prices

Metals
Latest action: action_date: 2021-06-15
text: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Summaries:
action_date: 2021-04-20
action_desc: Introduced in House
text: <p><b>Aluminum Pricing Examination Act or the APEX Act </b></p> <p>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. </p> <p>Additionally, the CFTC must consult with the Department of Justice regarding relevant information, including allegations of anticompetitive conduct. </p>

tv_txt: I 117th CONGRESS 1st Session H. R. 2698 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.

1. Short title This Act may be cited as the Aluminum Pricing Examination Act or the APEX Act . 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. .