Commodity Futures Trading Commission Act of 1974

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Commodity Futures Trading Commission Act of 1974
Great Seal of the United States.
Long title An Act to amend the Commodity Exchange Act to strengthen the regulation of futures trading, to bring all agricultural and other commodities traded on exchanges under regulation, and for other purposes.
Enacted by the  93rd United States Congress
Effective October 23, 1974
Citations
Public Law 93-463
Stat. 88 Stat. 1389
Codification
Title(s) amended 7 U.S.C.: Agriculture
U.S.C. section(s) amended 7 U.S.C. ch. 1 § 4a
Legislative history

Commodity Futures Trading Commission (CFTC) Act of 1974 (P.L. 93-463) created the Commodity Futures Trading Commission, to replace the U.S. Department of Agriculture’s Commodity Exchange Authority, as the independent federal agency responsible for regulating the futures trading industry. The Act made extensive changes in the basic authority of Commodity Exchange Act of 1936, which itself had made extensive changes in the original Grain Futures Act of 1922. (7 U.S.C. 1 et seq.).[1][2]

The H.R. 13113 legislation was passed by the 93rd U.S. Congressional session and signed into law by the 38th President of the United States Gerald Ford on October 23, 1974.[3]

References[edit]

  1. ^  This article incorporates public domain material from the Congressional Research Service document "Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition" by Jasper Womach.
  2. ^ CFTC.gov "About". CFTC. 
  3. ^ Peters,Gerhard; Woolley, John T. "Gerald R. Ford: "Statement on Signing the Commodity Futures Trading Commission Act of 1974.," October 24, 1974". The American Presidency Project. University of California - Santa Barbara. Retrieved September 7, 2013.