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7 U.S.C. § 13b — Manipulations or other violations; cease and desist orders against persons other than registered entities; punishment

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 13b — Manipulations or other violations; cease and desist orders against persons other than registered entities; punishment

If any person (other than a registered entity), is violating or has violated [section 9 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section9&num=0&edition=prelim) or any other provisions of this chapter or of the rules, regulations, or orders of the Commission thereunder, the Commission may, upon notice and hearing, and subject to appeal as in other cases provided for in [section 9 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section9&num=0&edition=prelim), make and enter an order directing that such person shall cease and desist therefrom and, if such person thereafter and after the lapse of the period allowed for appeal of such order or after the affirmance of such order, shall knowingly fail or refuse to obey or comply with such order, such person, upon conviction thereof, shall be fined not more than the higher of $140,000 or triple the monetary gain to such person, or imprisoned for not more than 1 year, or both, except that if such knowing failure or refusal to obey or comply with such order involves any offense within subsection (a) or (b) of [section 13 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section13&num=0&edition=prelim), such person, upon conviction thereof, shall be subject to the penalties of said subsection (a) or (b): Provided, That any such cease and desist order under this section against any respondent in any case of manipulation shall be issued only in conjunction with an order issued against such respondent under [section 9 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section9&num=0&edition=prelim).

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Stable record: federal_law:legal_authorities:record_usc_04e6b893bd19427897dbb900
Source file: Laws/federal/codes/united-states-code/title-7/section-13b-manipulations-or-other-violations-cease-and-desist-orders-against-person--6046e0b355.md
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Passage SHA-256: 532de80433888e58efa98ea3197db3176d5be4eb9e7225f6ae562a55a7866adf

Source location: Title 7, Chapter 1, § 13b; chapter-001-commodity-exchanges.md

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 9 — Prohibition regarding manipulation and false information

(1) **Prohibition against manipulation** — It shall be unlawful for any person, directly or indirectly, to use or employ, or attempt to use or employ, in connection with any swap, or a contract of sale of any commodity in interstate commerce, or for future delivery on or subject to the rules of any registered entity, any manipulative or deceptive device or contrivance, in contravention of such rules and regulations as the Commission shall promulgate by not later than 1 year after July 21, 2010, provided no rule or regulation promulgated by the Commission shall require any person to disclose to another person nonpublic information that may be material to the market price, rate, or level of the commodity transaction, except as necessary to make any statement made to the other person in or in connection with the transaction not misleading in any material respect. (A) *Special provision for manipulation by false reporting* — Unlawful manipulation for purposes of this paragraph shall include, but not be limited to, delivering, or causing to be delivered for transmission through the mails or interstate commerce, by any means of communication whatsoever, a false or misleading or inaccurate report concerning crop or market information or conditions that affect or tend to affect the price of any commodity in interstate commerce, knowing, or acting in reckless disregard of the fact that such report is false, misleading or inaccurate. (B) *Effect on other law* — Nothing in this paragraph shall affect, or be construed to affect, the applicability of [section 13(a)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section13/a/2&num=0&edition=prelim). (C) *Good faith mistakes* — Mistakenly transmitting, in good faith, false or misleading o

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 1a — Definitions

As used in this chapter: (1) **Alternative trading system** — The term “alternative trading system” means an organization, association, or group of persons that— (A) is registered as a broker or dealer pursuant to section 15(b) of the Securities Exchange Act of 1934 [[15 U.S.C. 78](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78&num=0&edition=prelim)o(b)] (except paragraph (11) thereof); (B) performs the functions commonly performed by an exchange (as defined in section 3(a)(1) of the Securities Exchange Act of 1934 [[15 U.S.C. 78c(a)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/1&num=0&edition=prelim)]); (C) does not— (i) set rules governing the conduct of subscribers other than the conduct of such subscribers’ trading on the alternative trading system; or (ii) discipline subscribers other than by exclusion from trading; and (D) is exempt from the definition of the term “exchange” under such section 3(a)(1) [[15 U.S.C. 78c(a)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/1&num=0&edition=prelim)] by rule or regulation of the Securities and Exchange Commission on terms that require compliance with regulations of its trading functions. (2) **Appropriate Federal banking agency** — The term “appropriate Federal banking agency”— (A) has the meaning given the term in [section 1813 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim); (B) means the Board in the case of a noninsured State bank; and (C) is the Farm Credit Administration for farm credit system institutions. (3) **Associated person of a security-based swap dealer or major security-based swap participant** — T

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1a

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 2 — Jurisdiction of Commission; liability of principal for act of agent; Commodity Futures Trading Commission; transaction in interstate commerce

**(a) Jurisdiction of Commission; Commodity Futures Trading Commission** (1) **Jurisdiction of Commission** (A) *In general* — The Commission shall have exclusive jurisdiction, except to the extent otherwise provided in the Wall Street Transparency and Accountability Act of 2010 (including an amendment made by that Act) and subparagraphs (C), (D), and (I) of this paragraph and subsections (c) and (f), with respect to accounts, agreements (including any transaction which is of the character of, or is commonly known to the trade as, an “option”, “privilege”, “indemnity”, “bid”, “offer”, “put”, “call”, “advance guaranty”, or “decline guaranty”), and transactions involving swaps or contracts of sale of a commodity for future delivery (including significant price discovery contracts), traded or executed on a contract market designated pursuant to [section 7 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7&num=0&edition=prelim) or a swap execution facility pursuant to [section 7b–3 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7b-3&num=0&edition=prelim) or any other board of trade, exchange, or market, and transactions subject to regulation by the Commission pursuant to [section 23 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section23&num=0&edition=prelim). Except as hereinabove provided, nothing contained in this section shall (I) supersede or limit the jurisdiction at any time conferred on the Securities and Exchange Commission or other regulatory authorities under the laws of the United States or of any State, or (II) restrict the Securities and Exchange Commission and such other authorities from carrying out their duties and responsibilities in

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 13 — Violations generally; punishment; costs of prosecution

**(a) Felonies generally** It shall be a felony punishable by a fine of not more than $1,000,000 or imprisonment for not more than 10 years, or both, together with the costs of prosecution, for: (1) Any person registered or required to be registered under this chapter, or any employee or agent thereof, to embezzle, steal, purloin, or with criminal intent convert to such person’s use or to the use of another, any money, securities, or property having a value in excess of $100, which was received by such person or any employee or agent thereof to margin, guarantee, or secure the trades or contracts of any customer or accruing to such customer as a result of such trades or contracts or which otherwise was received from any customer, client, or pool participant in connection with the business of such person. The word “value” as used in this paragraph means face, par, or market value, or cost price, either wholesale or retail, whichever is greater. (2) Any person to manipulate or attempt to manipulate the price of any commodity in interstate commerce, or for future delivery on or subject to the rules of any registered entity, or of any swap, or to corner or attempt to corner any such commodity or knowingly to deliver or cause to be delivered for transmission through the mails or interstate commerce by telegraph, telephone, wireless, or other means of communication false or misleading or knowingly inaccurate reports concerning crop or market information or conditions that affect or tend to affect the price of any commodity in interstate commerce, or knowingly to violate the provisions of section 6, section 6b, subsections (a) through (e) of subsection 11 So in original. Probably should be “section”. 6c, section 6h, section 6o(1), or [section 23 of this title](https://uscode

Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 13

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 8 — Application for designation as contract market or derivatives transaction execution facility; time; suspension or revocation of designation; hearing; review by court of appeals

**(a)** Any person desiring to be designated or registered as a contract market or derivatives transaction execution facility shall make application to the Commission for the designation or registration and accompany the same with a showing that it complies with the conditions set forth in this chapter, and with a sufficient assurance that it will continue to comply with the the 11 So in original. requirements of this chapter. The Commission shall approve or deny an application for designation or registration as a contract market or derivatives transaction execution facility within 180 days of the filing of the application. If the Commission notifies the person that its application is materially incomplete and specifies the deficiencies in the application, the running of the 180-day period shall be stayed from the time of such notification until the application is resubmitted in completed form: Provided, That the Commission shall have not less than sixty days to approve or deny the application from the time the application is resubmitted in completed form. If the Commission denies an application, it shall specify the grounds for the denial. In the event of a refusal to designate or register as a contract market or derivatives transaction execution facility any person that has made application therefor, the person shall be afforded an opportunity for a hearing on the record before the Commission, with the right to appeal an adverse decision after such hearing to the court of appeals as provided for in other cases in subsection (b) of this section. **(b)** The Commission is authorized to suspend for a period not to exceed 6 months or to revoke the designation or registration of any contract market or derivatives transaction execution facility on a showing that the contra

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 13b — Manipulations or other violations; cease

Page 123 TITLE 7—AGRICULTURE § 13b all suits in equity and actions at law brought under this section to enforce any liability or duty created by this chapter or any rule, regula- tion, or order of the Commission thereunder, or to obtain damages or other relief with respect thereto. Upon proper application, such courts shall also have jurisdiction to issue writs of mandamus, or orders affording like relief, com- manding the defendant to comply with the pro- visions of this chapter or any rule, regulation, or order of the Commission thereunder, includ- ing the requirement that the defendant take such action as is necessary to remove the danger of violation of this chapter or of any such rule, regulation, or order. Upon a proper showing, a permanent or temporary injunction or restrain- ing order shall be granted without bond. (3) Immediately upon instituting any such suit or action, the State shall serve written notice thereof upon the Commission and provide the Commission with a copy of its complaint, and the Commission shall have the right to (A) in- tervene in the suit or action and, upon doing so, shall be heard on all matters arising therein, and (B) file petitions for appeal. (4) Any suit or action brought under this sec- tion in a district court of the United States may be brought in the district wherein the defendant is found or is an inhabitant or transacts busi- ness or wherein the act or practice occurred, is occurring, or is about to occur, and process in such cases may be served in any district in which the defendant is an inhabitant or wher- ever the defendant may be found. (5) For purposes of bringing any suit or action under this section, nothing in this chapter shall prevent the attorney general, the administrator of the State

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