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7 U.S.C. § 6b–1 — Enforcement authority
Federal law — U.S. Code and appendices · legal_authorities
**(a) Commodity Futures Trading Commission** Except as provided in subsections (b), (c), and (d), the Commission shall have exclusive authority to enforce the provisions of subtitle A of the Wall Street Transparency and Accountability Act of 2010 with respect to any person.
**(b) Prudential regulators** The prudential regulators shall have exclusive authority to enforce the provisions of [section 6s(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6s/e&num=0&edition=prelim) with respect to swap dealers or major swap participants for which they are the prudential regulator.
**(c) Referrals**
(1) **Prudential regulators** — If the prudential regulator for a swap dealer or major swap participant has cause to believe that the swap dealer or major swap participant, or any affiliate or division of the swap dealer or major swap participant, may have engaged in conduct that constitutes a violation of the nonprudential requirements of this chapter (including [section 6s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6s&num=0&edition=prelim) or rules adopted by the Commission under that section), the prudential regulator may promptly notify the Commission in a written report that includes—
(A) a request that the Commission initiate an enforcement proceeding under this chapter; and
(B) an explanation of the facts and circumstances that led to the preparation of the written report.
(2) **Commission** — If the Commission has cause to believe that a swap dealer or major swap participant that has a prudential regulator may have engaged in conduct that constitutes a violation of any prudential requirement of [section 6s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-pr
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Stable record: federal_law:legal_authorities:record_usc_145dadcd285e303f56a1acc6
Source file: Laws/federal/codes/united-states-code/title-7/section-6b1-enforcement-authority--3819e739c0.md
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Source location: Title 7, Chapter 1, § 6b–1; chapter-001-commodity-exchanges.md
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**(a) Commodity Futures Trading Commission** Except as provided in subsections (b), (c), and (d), the Commission shall have exclusive authority to enforce the provisions of subtitle A of the Wall Street Transparency and Accountability Act of 2010 with respect to any person.
**(b) Prudential regulators** The prudential regulators shall have exclusive authority to enforce the provisions of [section 6s(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6s/e&num=0&edition=prelim) with respect to swap dealers or major swap participants for which they are the prudential regulator.
**(c) Referrals**
(1) **Prudential regulators** — If the prudential regulator for a swap dealer or major swap participant has cause to believe that the swap dealer or major swap participant, or any affiliate or division of the swap dealer or major swap participant, may have engaged in conduct that constitutes a violation of the nonprudential requirements of this chapter (including [section 6s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6s&num=0&edition=prelim) or rules adopted by the Commission under that section), the prudential regulator may promptly notify the Commission in a written report that includes—
(A) a request that the Commission initiate an enforcement proceeding under this chapter; and
(B) an explanation of the facts and circumstances that led to the preparation of the written report.
(2) **Commission** — If the Commission has cause to believe that a swap dealer or major swap participant that has a prudential regulator may have engaged in conduct that constitutes a violation of any prudential requirement of [section 6s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6s&num=0&edition=prelim) or rules adopted by the Commission under that section, the Commission may notify the prudential regulator of the conduct in a written report that includes—
(A) a request that the prudential regulator initiate an enforcement proceeding under this chapter or any other Federal law (including regulations); and
(B) an explanation of the concerns of the Commission, and a description of the facts and circumstances, that led to the preparation of the written report.
**(d) Backstop enforcement authority**
(1) **Initiation of enforcement proceeding by prudential regulator** — If the Commission does not initiate an enforcement proceeding before the end of the 90-day period beginning on the date on which the Commission receives a written report under subsection (c)(1), the prudential regulator may initiate an enforcement proceeding.
(2) **Initiation of enforcement proceeding by Commission** — If the prudential regulator does not initiate an enforcement proceeding before the end of the 90-day period beginning on the date on which the prudential regulator receives a written report under subsection (c)(2), the Commission may initiate an enforcement proceeding.
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Federal law — U.S. Code and appendices · legal_authorities
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
**(a)** Any agreement, contract, or transaction (or class thereof) that is exempted by the Commodity Futures Trading Commission pursuant to [section 6(c)(1) of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6/c/1&num=0&edition=prelim) with the condition that the Commission exercise concurrent jurisdiction over such agreement, contract, or transaction (or class thereof) shall be deemed a security for purposes of the securities laws.
**(b)** With respect to any agreement, contract, or transaction (or class thereof) that is exempted by the Commodity Futures Trading Commission pursuant to [section 6(c)(1) of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section6/c/1&num=0&edition=prelim) with the condition that the Commission exercise concurrent jurisdiction over such agreement, contract, or transaction (or class thereof), references in the securities laws to the “purchase” or “sale” of a security shall be deemed to include the execution, termination (prior to its scheduled maturity date), assignment, exchange, or similar transfer or conveyance of, or extinguishing of rights or obligations under such agreement, contract, or transaction, as the context may require.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78c–2
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** When used in this chapter, unless the context otherwise requires—
(1) The term “exchange” means any organization, association, or group of persons, whether incorporated or unincorporated, which constitutes, maintains, or provides a market place or facilities for bringing together purchasers and sellers of securities or for otherwise performing with respect to securities the functions commonly performed by a stock exchange as that term is generally understood, and includes the market place and the market facilities maintained by such exchange.
(2) The term “facility” when used with respect to an exchange includes its premises, tangible or intangible property whether on the premises or not, any right to the use of such premises or property or any service thereof for the purpose of effecting or reporting a transaction on an exchange (including, among other things, any system of communication to or from the exchange, by ticker or otherwise, maintained by or with the consent of the exchange), and any right of the exchange to the use of any property or service.
(3)
(A) The term “member” when used with respect to a national securities exchange means (i) any natural person permitted to effect transactions on the floor of the exchange without the services of another person acting as broker, (ii) any registered broker or dealer with which such a natural person is associated, (iii) any registered broker or dealer permitted to designate as a representative such a natural person, and (iv) any other registered broker or dealer which agrees to be regulated by such exchange and with respect to which the exchange undertakes to enforce compliance with the provisions of this chapter, the rules and regulations thereunder, and its own rules. For purposes of section
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78c
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Registration**
(1) **Swap dealers** — It shall be unlawful for any person to act as a swap dealer unless the person is registered as a swap dealer with the Commission.
(2) **Major swap participants** — It shall be unlawful for any person to act as a major swap participant unless the person is registered as a major swap participant with the Commission.
**(b) Requirements**
(1) **In general** — A person shall register as a swap dealer or major swap participant by filing a registration application with the Commission.
(2) **Contents**
(A) *In general* — The application shall be made in such form and manner as prescribed by the Commission, and shall contain such information, as the Commission considers necessary concerning the business in which the applicant is or will be engaged.
(B) *Continual reporting* — A person that is registered as a swap dealer or major swap participant shall continue to submit to the Commission reports that contain such information pertaining to the business of the person as the Commission may require.
(3) **Expiration** — Each registration under this section shall expire at such time as the Commission may prescribe by rule or regulation.
(4) **Rules** — Except as provided in subsections (d) and (e), the Commission may prescribe rules applicable to swap dealers and major swap participants, including rules that limit the activities of swap dealers and major swap participants.
(5) **Transition** — Rules under this section shall provide for the registration of swap dealers and major swap participants not later than 1 year after July 21, 2010.
(6) **Statutory disqualification** — Except to the extent otherwise specifically provided by rule, regulation, or order, it shall be unlawful for a swap dealer or a major swap participant to
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 6s
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Federal law — U.S. Code and appendices · legal_authorities
In this subchapter—
(1) “Act” means Commodity Exchange Act;
(2) “clearing organization” means a derivatives clearing organization registered under the Act;
(3) “Commission” means Commodity Futures Trading Commission;
(4) “commodity contract” means—
(A) with respect to a futures commission merchant, contract for the purchase or sale of a commodity for future delivery on, or subject to the rules of, a contract market or board of trade;
(B) with respect to a foreign futures commission merchant, foreign future;
(C) with respect to a leverage transaction merchant, leverage transaction;
(D) with respect to a clearing organization, contract for the purchase or sale of a commodity for future delivery on, or subject to the rules of, a contract market or board of trade that is cleared by such clearing organization, or commodity option traded on, or subject to the rules of, a contract market or board of trade that is cleared by such clearing organization;
(E) with respect to a commodity options dealer, commodity option;
(F)
(i) any other contract, option, agreement, or transaction that is similar to a contract, option, agreement, or transaction referred to in this paragraph; and
(ii) with respect to a futures commission merchant or a clearing organization, any other contract, option, agreement, or transaction, in each case, that is cleared by a clearing organization;
(G) any combination of the agreements or transactions referred to in this paragraph;
(H) any option to enter into an agreement or transaction referred to in this paragraph;
(I) a master agreement that provides for an agreement or transaction referred to in subparagraph (A), (B), (C), (D), (E), (F), (G), or (H), together with all supplements to such master agreement, without reg
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 761
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