A bill to provide for the availability of amounts for customer education initiatives and non-awards expenses of the Commodity Futures Trading Commission Whistleblower Program, and for other purposes.

Bill: 117-s-409
Sponsor: full_name: Sen. Grassley, Chuck [R-IA]
Introduced: 2021-02-24
Policy area: Finance and Financial Sector
Subjects: Administrative remedies

Civil actions and liability

Commodities markets

Commodity Futures Trading Commission

Congressional oversight

Consumer affairs

Fraud offenses and financial crimes

Government trust funds
Latest action: action_date: 2021-07-06
text: Became Public Law No: 117-25.

Summaries:
action_date: 2021-02-24
action_desc: Introduced in Senate
text: <p>This bill expands the permissible uses of the Commodity Futures Trading Commission Customer Protection Fund to include administrative expenses. </p>

action_date: 2021-05-28
action_desc: Passed Senate
text: <p>This bill expands the permissible uses of the Commodity Futures Trading Commission Customer Protection Fund to include administrative expenses. </p>

action_date: 2021-06-23
action_desc: Passed House
text: <p>This bill expands the permissible uses of the Commodity Futures Trading Commission Customer Protection Fund to include administrative expenses. </p>

action_date: 2021-07-06
action_desc: Public Law
text: <p>This bill expands the permissible uses of the Commodity Futures Trading Commission Customer Protection Fund to include administrative expenses. </p>

tv_txt: II 117th CONGRESS 1st Session S. 409 IN THE SENATE OF THE UNITED STATES February 24, 2021 Mr. Grassley (for himself, Ms. Hassan , Ms. Ernst , and Ms. Baldwin ) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry A BILL To amend the Commodity Exchange Act to modify the Commodity Futures Trading Commission Customer Protection Fund, and for other purposes.

1. Commodity Futures Trading Commission Customer Protection Fund Section 23(g) of the Commodity Exchange Act ( 7 U.S.C. 26(g) ) is amended— (1) in paragraph (2)(A), by striking (a) and inserting (b) ; and (2) in paragraph (3)— (A) in subparagraph (A), by striking $100,000,000 and inserting $150,000,000 ; (B) by redesignating subparagraphs (A) through (C) as clauses (i) through (iii), respectively, and indenting appropriately; (C) in the matter preceding clause (i) (as so redesignated), by striking There shall and inserting the following: (A) In general There shall ; (D) in subparagraph (A)(ii) (as so designated), by striking subparagraph (A) and inserting clause (i) ; and (E) by adding at the end the following: (B) Separate account for education initiatives and administrative expenses (i) In general Any amounts contained in, deposited into, or credited to the Fund under subparagraph (A) may be deposited into or credited to a separate account in the Fund described in clause (ii), unless the balance of the separate account at the time the amounts are deposited or credited exceeds $10,000,000. (ii) Use of separate account The separate account referred to in clause (i) shall be available to the Commission, without further appropriation or fiscal year limitation, for— (I) the purpose described in subparagraph (B) of paragraph (2); and (II) the funding of administrative and salary expenses necessary for personnel to carry out the activities described in subparagraphs (A) and (B) of that paragraph. (iii) Sunset The authority to deposit amounts into, or credit amounts to, the separate account referred to in clause (i) shall expire on October 1, 2021, and any remaining unobligated balances in that separate account may be transferred at any time thereafter to the Fund. .

tv_txt: 117th CONGRESS 1st Session S. 409 IN THE SENATE OF THE UNITED STATES AN ACT To provide for the availability of amounts for customer education initiatives and non-awards expenses of the Commodity Futures Trading Commission Whistleblower Program, and for other purposes.

1. Commodity Futures Trading Commission Whistleblower Program (a) In general Notwithstanding any other provision of law, there is established in the Treasury a separate account (referred to in this section as the account ), the amounts in which shall be available for the sole purposes of— (1) carrying out the activities described in section 23(g)(2)(B) of the Commodity Exchange Act ( 7 U.S.C. 26(g)(2)(B) ) (referred to in this section as customer education initiatives ); and (2) funding the administrative, programmatic, and personnel expenses of the Whistleblower Office and the Office of Customer Education and Outreach of the Commodity Futures Trading Commission (referred to in this section as the Commission ) in carrying out section 23 of the Commodity Exchange Act ( 7 U.S.C. 26 ) (referred to in this section as non-awards expenses ). (b) Transfers from Fund into account (1) In general Notwithstanding any other provision of law, the Commission shall transfer up to $10,000,000 from the Commodity Futures Trading Commission Customer Protection Fund established under section 23(g)(1) of the Commodity Exchange Act ( 7 U.S.C. 26(g)(1) ) (referred to in this section as the Fund ) into the account. (2) Availability Amounts transferred under paragraph (1) shall be available for obligation without further appropriation and remain available until October 1, 2022. (3) Remaining amounts Amounts remaining in the account that are unobligated on October 1, 2022, shall be returned to the Fund. (c) Requirement for obligations The Commission may make obligations from the account only when the unobligated balance of the Fund is insufficient to pay non-awards expenses and expenses for customer education initiatives due to awards that the Commission has ordered under section 23(b) of the Commodity Exchange Act ( 7 U.S.C. 26(b) ). (d) Reports to Congress The Commission shall include in each report required under section 23(g)(5) of the Commodity Exchange Act ( 7 U.S.C. 26(g)(5) ) the same information with respect to the account as the Commission includes in the report with respect to the Fund, to the extent the information is relevant to the account.

Passed the Senate May 28 (legislative day, May 27), 2021. Secretary

tv_txt: One Hundred Seventeenth Congress of the United States of America 1st Session Begun and held at the City of Washington on Sunday, the third day of January, two thousand and twenty one S. 409 IN THE SENATE OF THE UNITED STATES AN ACT To provide for the availability of amounts for customer education initiatives and non-awards expenses of the Commodity Futures Trading Commission Whistleblower Program, and for other purposes.

1. Commodity Futures Trading Commission Whistleblower Program (a) In general Notwithstanding any other provision of law, there is established in the Treasury a separate account (referred to in this section as the account ), the amounts in which shall be available for the sole purposes of— (1) carrying out the activities described in section 23(g)(2)(B) of the Commodity Exchange Act ( 7 U.S.C. 26(g)(2)(B) ) (referred to in this section as customer education initiatives ); and (2) funding the administrative, programmatic, and personnel expenses of the Whistleblower Office and the Office of Customer Education and Outreach of the Commodity Futures Trading Commission (referred to in this section as the Commission ) in carrying out section 23 of the Commodity Exchange Act ( 7 U.S.C. 26 ) (referred to in this section as non-awards expenses ). (b) Transfers from Fund into account (1) In general Notwithstanding any other provision of law, the Commission shall transfer up to $10,000,000 from the Commodity Futures Trading Commission Customer Protection Fund established under section 23(g)(1) of the Commodity Exchange Act ( 7 U.S.C. 26(g)(1) ) (referred to in this section as the Fund ) into the account. (2) Availability Amounts transferred under paragraph (1) shall be available for obligation without further appropriation and remain available until October 1, 2022. (3) Remaining amounts Amounts remaining in the account that are unobligated on October 1, 2022, shall be returned to the Fund. (c) Requirement for obligations The Commission may make obligations from the account only when the unobligated balance of the Fund is insufficient to pay non-awards expenses and expenses for customer education initiatives due to awards that the Commission has ordered under section 23(b) of the Commodity Exchange Act ( 7 U.S.C. 26(b) ). (d) Reports to Congress The Commission shall include in each report required under section 23(g)(5) of the Commodity Exchange Act ( 7 U.S.C. 26(g)(5) ) the same information with respect to the account as the Commission includes in the report with respect to the Fund, to the extent the information is relevant to the account.

Speaker of the House of Representatives Vice President of the United States and President of the Senate