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S. 3569 - Aluminum Pricing Examination Act

Sponsor: Cory Gardner (R)
Introduced: 2018-10-10
Bill Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
 
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Full Text


115th CONGRESS
2d Session
S. 3569


    To amend the Commodity Exchange Act to extend the jurisdiction of the Commodity Futures Trading Commission to include the setting of reference prices for aluminum premiums, and for other purposes.


IN THE SENATE OF THE UNITED STATES

October 10, 2018

    Mr. Gardner introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs


A BILL

    To amend the Commodity Exchange Act to extend the jurisdiction of the Commodity Futures Trading Commission to include the setting of reference prices for aluminum premiums, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Aluminum Pricing Examination Act” or the “APEX Act”.

SEC. 2. Jurisdiction of the Commodity Futures Trading Commission over the setting of 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) REFERENCE PRICES FOR ALUMINUM PREMIUMS.—

“(i) DEFINITIONS.—In this subparagraph:

“(I) PREMIUM.—The term ‘premium’ has the meaning given the term in section 1.3 of title 17, Code of Federal Regulations (or successor regulations).

“(II) REFERENCE PRICE.—The term ‘reference price’ has the meaning given the term ‘commodity reference price’ in section 20.1 of title 17, Code of Federal Regulations (or successor regulations).

“(ii) JURISDICTION.—The Commission shall have exclusive jurisdiction over the setting of reference prices for aluminum premiums.

“(iii) CONSULTATION WITH ATTORNEY GENERAL.—

“(I) IN GENERAL.—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 a reference price under clause (ii).

“(II) REVIEW BY ATTORNEY GENERAL.—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) AUTHORITIES AND DUTIES OF ATTORNEY GENERAL.—The Attorney General—

“(aa) may cooperate, and share relevant information, with the Commission with respect to the setting of a reference price under clause (ii); and

“(bb) shall—

“(AA) review any proposed regulation or guideline described in subclause (II) to ensure that the regulation or guideline is consistent with the goals and purposes of the antitrust laws; and

“(BB) submit to the Commission the analysis and opinion of the Attorney General on that proposed regulation or guideline.”.


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