Source: http://www.law.cornell.edu/uscode/text/7/9?quicktabs_8=4
Timestamp: 2013-05-18 17:49:00
Document Index: 233124286

Matched Legal Cases: ['§ 9', '§ 9', '§ 9', '§ 6', '§ 6', '§ 8', '§ 32', '§ 127', '§ 7', '§ 1', '§ 16', '§ 202', '§ 103', '§ 204', '§ 408', '§ 13', '§ 219', '§ 103', '§ 6', '§ 209', '§ 301', '§ 402', '§ 1', '§ 123', '§ 13103', '§ 4', '§ 13103', '§ 741', '§ 753', '§ 741', '§ 13103', '§ 402', '§ 103', '§ 209', '§ 103', '§ 103', '§ 711', '§ 753']

7 USC § 9 - Prohibition regarding manipulation and false information | Title 7 - Agriculture | U.S. Code | LII / Legal Information Institute
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7 USC § 9 - Prohibition regarding manipulation and false information
to direct all registered entities to refuse all privileges to the person until further notice of the Commission; and
the registration of the person, if registered with the Commission in any capacity, should not be suspended or revoked; and
may be held before—
an administrative law judge designated by the Commission, under which the administrative law judge shall ensure that all evidence is recorded in written form and submitted to the Commission.
Subpoena For the purpose of securing effective enforcement of the provisions of this chapter, for the purpose of any investigation or proceeding under this chapter, and for the purpose of any action taken under section 16
(f) of this title, any member of the Commission or any Administrative Law Judge or other officer designated by the Commission (except as provided in paragraph (7)) may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, or other records that the Commission deems relevant or material to the inquiry.
Witnesses The attendance of witnesses and the production of any such records may be required from any place in the United States, any State, or any foreign country or jurisdiction at any designated place of hearing.
Service A subpoena issued under this section [1]
may be served upon any person who is not to be found within the territorial jurisdiction of any court of the United States in such manner as the Federal Rules of Civil Procedure prescribe for service of process in a foreign country, except that a subpoena to be served on a person who is not to be found within the territorial jurisdiction of any court of the United States may be issued only on the prior approval of the Commission.
Refusal to obey In case of contumacy by, or refusal to obey a subpoena issued to, any person, the Commission may invoke the aid of any court of the United States within the jurisdiction in which the investigation or proceeding is conducted, or where such person resides or transacts business, in requiring the attendance and testimony of witnesses and the production of books, papers, correspondence, memoranda, and other records. Such court may issue an order requiring such person to appear before the Commission or member or Administrative Law Judge or other officer designated by the Commission, there to produce records, if so ordered, or to give testimony touching the matter under investigation or in question.
Failure to obey Any failure to obey such order of the court may be punished by the court as a contempt thereof. All process in any such case may be served in the judicial district wherein such person is an inhabitant or transacts business or wherever such person may be found.
Evidence On the receipt of evidence under paragraph (4)(C)(iii), the Commission may—
prohibit the person that is the subject of the hearing from trading on, or subject to the rules of, any registered entity and require all registered entities to refuse the person all privileges on the registered entities for such period as the Commission may require in the order;
if the person is registered with the Commission in any capacity, suspend, for a period not to exceed 180 days, or revoke, the registration of the person;
assess such person—
a civil penalty of not more than an amount equal to the greater of—
$140,000; or
triple the monetary gain to such person for each such violation; or
in any case of manipulation or attempted manipulation in violation of this section or section 13
(a)(2) of this title, a civil penalty of not more than an amount equal to the greater of—
triple the monetary gain to the person for each such violation; and
require restitution to customers of damages proximately caused by violations of the person.
Notice The Commission shall provide to a person described in paragraph (10) and the appropriate governing board of the registered entity notice of the order described in paragraph (10) by—
In general A person described in paragraph (10) may obtain a review of the order or such other equitable relief as determined to be appropriate by a court described in clause (ii).
Petition To obtain a review or other relief under clause (i), a person may, not later than 15 days after notice is given to the person under clause (i), file a written petition to set aside the order with the United States Court of Appeals—
for the circuit in which the petitioner carries out the business of the petitioner; or
in the case of an order denying registration, the circuit in which the principal place of business of the petitioner is located, as listed on the application for registration of the petitioner.
Duty of clerk of appropriate court The clerk of the appropriate court under subparagraph (B)(ii) shall transmit to the Commission a copy of a petition filed under subparagraph (B)(ii).
Duty of Commission In accordance with section 2112 of title 28, the Commission shall file in the appropriate court described in subparagraph (B)(ii) the record theretofore made.
Jurisdiction of appropriate court Upon the filing of a petition under subparagraph (B)(ii), the appropriate court described in subparagraph (B)(ii) may affirm, set aside, or modify the order of the Commission.
(Sept. 21, 1922, ch. 369, § 6(c), formerly § 6(b),42 Stat. 1002; June 15, 1936, ch. 545, § 8,49 Stat. 1498; June 25, 1948, ch. 646, § 32(a),62 Stat. 991; May 24, 1949, ch. 139, § 127,63 Stat. 107; June 16, 1955, ch. 151, 69 Stat. 160; Pub. L. 85–791, § 7(b),Aug. 28, 1958, 72 Stat. 944; Pub. L. 86–507, § 1(2),June 11, 1960, 74 Stat. 200; Pub. L. 90–258, § 16,Feb. 19, 1968, 82 Stat. 30; Pub. L. 91–452, title II, § 202,Oct. 15, 1970, 84 Stat. 928; Pub. L. 93–463, title I, § 103(a), (b), (d), (e), title II, §§ 204(b), 205
(b), 212
(a)(1), (2), title IV, § 408,Oct. 23, 1974, 88 Stat. 1392, 1397, 1400, 1403, 1414; Pub. L. 95–405, § 13(3),Sept. 30, 1978, 92 Stat. 871; Pub. L. 97–444, title II, § 219,Jan. 11, 1983, 96 Stat. 2308; Pub. L. 99–641, title I, § 103,Nov. 10, 1986, 100 Stat. 3557; renumbered § 6(c) and amended Pub. L. 102–546, title II, §§ 209(a)(1), 212
(b), 223, title III, § 301, title IV, § 402(1)(C), (6), (7), (9)(B),Oct. 28, 1992, 106 Stat. 3606, 3609, 3617, 3622, 3624, 3625; Pub. L. 106–554, § 1(a)(5) [title I, § 123(a)(12)(C)], Dec. 21, 2000, 114 Stat. 2763, 2763A–409; Pub. L. 110–234, title XIII, § 13103(a),May 22, 2008, 122 Stat. 1433; Pub. L. 110–246, § 4(a), title XIII, § 13103(a),June 18, 2008, 122 Stat. 1664, 2195; Pub. L. 111–203, title VII, §§ 741(b)(3), 753
(a),July 21, 2010, 124 Stat. 1731, 1750.)
Section is comprised of subsec. (c) ofsection 6 of act Sept. 21, 1922. Prior to amendment by Pub. L. 111–203, a further provision of subsec. (c) was contained in section 15 of this title and, prior to its incorporation into the Code, contained a provision as to finality of judgments and review by the Supreme Court which is covered by section 1254 of Title 28, Judiciary and Judicial Procedure. Subsecs. (a) and (b) ofsection 6 are classified to section 8 of this title. Subsecs. (d), (e), (f), and (g) ofsection 6 are classified to sections 13b, 9a, 9b, and 9c of this title, respectively.
2010—Pub. L. 111–203, § 753(a), amended section generally. Prior to amendment, section related to exclusion of persons from privilege of “registered entities”, procedure for exclusion, review by court of appeals, and enforcement powers of Commission.
Pub. L. 111–203, § 741(b)(3), in first sentence, inserted “or of any swap,” before “or has willfully made”.
2008—Pub. L. 110–246, § 13103(a), in cl. (3) of third sentence inserted “(A)” after “assess such person” and added subcl. (B).
2000—Pub. L. 106–554substituted “registered entity” for “contract market” wherever appearing, “registered entities” for “contract markets” wherever appearing, and “privileges” for “trading privileges” in two places.
1992—Pub. L. 102–546, § 402(9)(B), which directed amendment of first sentence by striking “the Secretary of Agriculture or”, could not be executed because of amendment by Pub. L. 93–463, § 103(a). See 1974 Amendment note below.
Pub. L. 102–546, §§ 209(a)(1), 212
(b), 223, 402
(1)(C), (6), substituted, in first sentence, “Commission thereunder” for “commission thereunder”, in sentence beginning “Upon evidence received”, inserted “(1)”, substituted “(2) if” for “and, if”, “suspend” for “may suspend”, “(3)” for “and may”, “the higher of $100,000 or triple the monetary gain to such person” for “$100,000”, and inserted before period “and (4) require restitution to customers of damages proximately caused by violations of such persons”, and in sentence beginning “After the issuance”, substituted “offending person” for “offending person.”.
1983—Pub. L. 97–444struck out “as futures commission merchant or any person associated therewith as described in section 6k of this title, commodity trading advisor, commodity pool operator, or as floor broker hereunder” after “such person, if registered” and also after “such person is registered” and inserted “, or in the case of an order denying registration, the circuit in which the petitioner’s principal place of business listed on petitioner’s application for registration is located,” after “court of appeals of the circuit in which the petitioner is doing business”.
1974—Pub. L. 93–463, §§ 103(e), 204
(b), 205
(a)(1), (2), 408, substituted “it” for “he”, inserted “or any person associated therewith as described in section 6k of this title,” after “futures commission merchant” wherever appearing, inserted “commodity trading advisor, commodity pool operator” before “or as floor broker” wherever appearing, inserted provision for the assessment of civil penalties of not more than $100,000 for each violation, set a limit of fifteen days after the issuance of an order within which period the person against whom the order was issued must file with the court of appeals his petition that the order be set aside, and substituted “an Administrative Law Judge” and “Administrative Law Judge” for “a referee” and “referee”, respectively.
Pub. L. 93–463, § 103(a), provided for substitution of “Commission” for “Secretary of Agriculture” except where such words would be stricken by section 103(b), which directed striking the words “the Secretary of Agriculture or” where they appeared in the phrase “the Secretary of Agriculture or the Commission”. Section 103(a) was executed wherever the term “Secretary of Agriculture” appeared in this section including in the phrase “the Secretary of Agriculture or the commission” in the first sentence. Because the word “commission” was not capitalized in that phrase in the first sentence, section 103(b) did not apply to that phrase and therefore section 103(a) was executed, resulting in the substitution of “the Commission or the commission” for “the Secretary of Agriculture or the commission”.
1968—Pub. L. 90–258amended first sentence generally, providing for denial of trading privileges to persons other than contract markets and suspension or revocation of registration of futures commission merchants and floor brokers, who are manipulating or have attempted to manipulate prices, for willful, material, misstatements in, or omissions from, reports or registration statements, and for violations of orders of Secretary of Agriculture or commission, and authorizing the Secretary to prohibit such persons from trading on or subject to rules of any contract market.
1958—Pub. L. 85–791substituted “transmitted by the clerk of the court to the Secretary of Agriculture and thereupon the Secretary of Agriculture shall file in the court the record theretofore made, as provided in section 2112 of Title 28” for “served upon the Secretary of Agriculture by delivering such copy to him and thereupon the Secretary of Agriculture shall forthwith certify and file in the court a transcript of the record theretofore made, including evidence received” in seventh sentence, and substituted “petition” for “transcript” in eighth sentence.
Amendment by section 741(b)(3) ofPub. L. 111–203effective on the later of 360 days after July 21, 2010, or, to the extent a provision of subtitle A (§§ 711–754) of title VII of Pub. L. 111–203requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle A, see section 754 ofPub. L. 111–203, set out as a note under section 1a of this title.
Pub. L. 111–203, title VII, § 753(d),July 21, 2010, 124 Stat. 1754, provided that:
“(1) The amendments made by this section [amending this section and sections 13b and 25 of this title] shall take effect on the date on which the final rule promulgated by the Commodity Futures Trading Commission [see 76 F.R. 41398, effective Aug. 15, 2011] pursuant to this Act [see Tables for classification] takes effect.
“(2) Paragraph (1) shall not preclude the Commission from undertaking prior to the effective date any rulemaking necessary to implement the amendments contained in this section.”
This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.17 CFR - Title 17—Commodity and Securities Exchanges17 CFR 1 - GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT17 CFR 3 - REGISTRATION17 CFR 11 - RULES RELATING TO INVESTIGATIONS17 CFR 15 - REPORTS—GENERAL PROVISIONS17 CFR 33 - REGULATION OF DOMESTIC EXCHANGE-TRADED COMMODITY OPTION TRANSACTIONS17 CFR 42 - ANTI-MONEY LAUNDERING, TERRORIST FINANCING17 CFR 143 - COLLECTION OF CLAIMS OWED THE UNITED STATES ARISING FROM ACTIVITIES UNDER THE COMMISSION'S JURISDICTION