§ 6i. Reports of deals equal to or in excess of trading limits; books and records; cash and controlled transactions

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1922

   Sept. 21, 1922, ch. 369, § 4i, as added June 15, 1936, ch. 545, § 5, 49 Stat. 1496 · 49 Stat. 1496

   Enacted · 7 U.S.C. § 6i

   Sept. 21, 1922, ch. 369, § 4i, as added June 15, 1936, ch. 545, § 5, 49 Stat. 1496

   Source evidence

   Code source credit
   Sept. 21, 1922, ch. 369, § 4i, as added June 15, 1936, ch. 545, § 5, 49 Stat. 1496

2. 1968

   Pub. L. 90–258 § 9 · 82 Stat. 26

   Changed · 7 U.S.C. § 6i

   Pub. L. 90–258 required recordkeeping of positions and of cash or spot transactions in commodities entered into, and inventories and purchase and sale commitments of commodities held, in any month in which reports are required to be kept, including details concerning positions, inventories, and commitments, and included controlled transactions and positions in the futures and cash or spot transactions and positions of any person

   Source evidence

   Code amendment note
   Pub. L. 90–258 required recordkeeping of positions and of cash or spot transactions in commodities entered into, and inventories and purchase and sale commitments of commodities held, in any month in which reports are required to be kept, including details concerning positions, inventories, and commitments, and included controlled transactions and positions in the futures and cash or spot transactions and positions of any person.

   Enacted provision · exact public law section
   Sec. 9. Section 4i of the Commodity Exchange Act, as amended (7 U.S.C. 6i), is amended by deleting the last sentence and adding the following at the end of the section. “Such person shall keep books and records of all futures transactions and positions coming within the provisions of (1) and (2) hereof, and shall keep books and records of such cash or spot, transactions in such commodity entered into, and inventories and purchase and sale commitments of such commodity held, in any month in which such person is required to make any report, under the provisions of (1) or (2), as the Secretary of Agriculture may require. Such books and records shall show complete details concerning all such transactions, positions, inventories, and commitments, including the names and addresses of all persons having any interest therein, and shall be open at all times to inspection by any representative of the United States Department of Agriculture or the United States Department of Justice. For the purposes of this section, the futures and cash or spot transactions and positions of any person shall include such transactions and positions of any persons directly or indirectly controlled by such person.”

3. 1974

   Commodity Futures Trading Commission Act of 1974

   Pub. L. 93–463 title I § 103(a) · 88 Stat. 1389

   Substituted · 7 U.S.C. § 6i

   Pub. L. 93–463 substituted “Commission” for “Secretary of Agriculture” and “United States Department of Agriculture”

   Source evidence

   Code amendment note
   Pub. L. 93–463 substituted “Commission” for “Secretary of Agriculture” and “United States Department of Agriculture”.

   Enacted provision · exact public law section
   (a) By 7 USC 6, 6a, 6c–6g, 6i, 7, 7a, 8, 9, 11, 12, 12–1, 12a, 12b, 13b, 16. striking the word “Secretary” and the words “Secretary of Agriculture” wherever such words appear therein (except where the words “Secretary of Agriculture” first appear in section 5(a)(7 U.S.C. 7) or where said words would be stricken by subsection (b), (c), or (d) of this section) and by inserting in lieu thereof the word “Commission”.

4. 1983

   Futures Trading Act of 1982

   Pub. L. 97–444 title II § 211 · 96 Stat. 2294

   1. Amended · 7 U.S.C. § 6i

      Pub. L. 97–444 amended section generally by substantially restating provisions

   2. Inserted · 7 U.S.C. § 6i

      Pub. L. 97–444 inserting requirement that persons whose transactions and positions in any cash commodity or commodity future are equal to or in excess of amounts fixed by the Commission, must keep books and records of such transactions and positions as well as books and records of any such commodity traded on or subject to rules of any other board of trade, whether or not such person is required to file reports with the Commission concerning such transactions and positions

   Source evidence

   Code amendment note
   Pub. L. 97–444 amended section generally by substantially restating provisions and inserting requirement that persons whose transactions and positions in any cash commodity or commodity future are equal to or in excess of amounts fixed by the Commission, must keep books and records of such transactions and positions as well as books and records of any such commodity traded on or subject to rules of any other board of trade, whether or not such person is required to file reports with the Commission concerning such transactions and positions.

   Enacted provision · exact public law section
   Sec. 211. recordkeeping conformed to current system; large trader reports Section 4i of the Commodity Exchange Act (7 U.S.C. 6i) is amended to read as follows: “Sec. 4i. It shall be unlawful for any person to make any contract for the purchase or sale of any commodity for future delivery on or subject to the rules of any contract market— “(1) if such person shall directly or indirectly make such contracts with respect to any commodity or any future of such commodity during any one day in an amount equal to or in excess of such amount as shall be fixed from time to time by the Commission, and “(2) if such person shall directly or indirectly have or obtain a long or short position in any commodity or any future of such commodity equal to or in excess of such amount as shall be fixed from time to time by the Commission, unless such person files or causes to be filed with the properly designated officer of the Commission such reports regarding any transactions or positions described in clauses (1) and (2) hereof as the Commission may by rule or regulation require and unless, in accordance with rules and regulations of the Commission, such person shall keep books and records of all such transactions and positions and transactions and positions in any such commodity traded on or subject to the rules of any other board of trade, and of cash or spot transactions in, and inventories and purchase and sale commitments of such commodity. Such books and records shall show complete details concerning all such transactions, positions, inventories, and commitments, including the names and addresses of all persons having any interest therein, and shall be open at all times to inspection by any representative of the Commission or the Department of Justice. For the purposes of this section, the futures and cash or spot transactions and positions of any person shall include such transactions and positions of any persons directly or indirectly controlled by such person.”.

5. 2000

   Consolidated Appropriations Act, 2001

   Pub. L. 106–554 § 1(a)(5)(tI)(s123)(a)(9) · 114 Stat. 2763

   Inserted · 7 U.S.C. § 6i

   Pub. L. 106–554 inserted “or derivatives transaction execution facility” after “contract market” in introductory provisions

   Source evidence

   Code amendment note
   Pub. L. 106–554 inserted “or derivatives transaction execution facility” after “contract market” in introductory provisions.

   Enacted provision · exact public law section
   (5) H.R. 5660, as introduced on December 14, 2000.

6. 2008

   CFTC Reauthorization Act of 2008

   Pub. L. 110–246 § 13202(b) · 122 Stat. 1651

   1. Inserted · 7 U.S.C. § 6i

      Pub. L. 110–246, § 13202(b), in introductory provisions, inserted “, or any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract” after “derivatives transaction execution facility” and, in concluding provisions

   2. Inserted · 7 U.S.C. § 6i

      Pub. L. 110–246, § 13202(b), in introductory provisions, inserted “or electronic trading facility” after “board of trade”

   Source evidence

   Code amendment note
   Pub. L. 110–246, § 13202(b), in introductory provisions, inserted “, or any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract” after “derivatives transaction execution facility” and, in concluding provisions, inserted “or electronic trading facility” after “board of trade”.

   Enacted provision · exact public law section
   (b) Reports of Positions Equal to or in Excess of Trading Limits.— Section 4i of such Act (7 U.S.C. 6i) is amended— (1) by inserting “, or any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract” after “subject to the rules of any contract market or derivatives transaction execution facility”; and (2) in the matter following paragraph (2), by inserting “or electronic trading facility” after “subject to the rules of any other board of trade”.

   Effective date note
   Amendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, except as otherwise provided, see section 4 of Pub. L. 110–246, set out as an Effective Date note under section 8701 of this title. Amendment by section 13202(b) of Pub. L. 110–246 effective June 18, 2008, see section 13204(a) of Pub. L. 110–246, set out as a note under section 2 of this title.

7 of 8 references resolved to an enrolled provision · 1 partial