Browse Arkansas Code titles and sections
12 U.S.C. § 5492 — Consultation
Federal law — U.S. Code and appendices · legal_authorities
**(a) CFTC** The Commodity Futures Trading Commission shall consult with the Board of Governors—
(1) prior to exercising its authorities under sections 2(h)(2)(C), 2(h)(3)(A), 2(h)(3)(C), 2(h)(4)(A), and 2(h)(4)(B) of title 7, as amended by the Wall Street Transparency and Accountability Act of 2010;
(2) with respect to any rule or rule amendment of a derivatives clearing organization for which a stay of certification has been issued under section 745(b)(3) 11 See References in Text note below. of the Wall Street Transparency and Accountability Act of 2010; and
(3) prior to exercising its rulemaking authorities under section 728 of the Wall Street Transparency and Accountability Act of 2010 [[7 U.S.C. 24a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section24a&num=0&edition=prelim)].
**(b) SEC** The Commission shall consult with the Board of Governors—
(1) prior to exercising its authorities under sections 78c–3(a)(2)(C), 78c–3(a)(3)(A), 78c–3(a)(3)(C), 78c–3(a)(4)(A), and 78c–3(a)(4)(B) of title 15, as amended by the Wall Street Transparency and Accountability Act of 2010;
(2) with respect to any proposed rule change of a clearing agency for which an extension of the time for review has been designated under [section 78s(b)(2) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78s/b/2&num=0&edition=prelim); and
(3) prior to exercising its rulemaking authorities under [section 78m(n) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78m/n&num=0&edition=prelim), as added by section 763(i) of the Wall Street Transparency and Accountability Act of 2010.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5492
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: ccc586c08d599119fe9b159e62d4472e25d2fd55599f6186e438cc9818db05ee. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_3e38f4d6d4496647740251ff
Source file: Laws/federal/codes/united-states-code/title-12/section-5492-consultation--94f58c9632.md
Pages: Not recorded – Not recorded
Passage SHA-256: 804a5b78df6acabeb53a2ba85e94bb4bb461c494d8c792b6fc5b0342c8c0518e
Source location: Title 12, Chapter 53, § 5492; chapter-053-wall-street-reform-and-consumer-protection.md
Stored source content
**(a) CFTC** The Commodity Futures Trading Commission shall consult with the Board of Governors—
(1) prior to exercising its authorities under sections 2(h)(2)(C), 2(h)(3)(A), 2(h)(3)(C), 2(h)(4)(A), and 2(h)(4)(B) of title 7, as amended by the Wall Street Transparency and Accountability Act of 2010;
(2) with respect to any rule or rule amendment of a derivatives clearing organization for which a stay of certification has been issued under section 745(b)(3) 11 See References in Text note below. of the Wall Street Transparency and Accountability Act of 2010; and
(3) prior to exercising its rulemaking authorities under section 728 of the Wall Street Transparency and Accountability Act of 2010 [[7 U.S.C. 24a](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section24a&num=0&edition=prelim)].
**(b) SEC** The Commission shall consult with the Board of Governors—
(1) prior to exercising its authorities under sections 78c–3(a)(2)(C), 78c–3(a)(3)(A), 78c–3(a)(3)(C), 78c–3(a)(4)(A), and 78c–3(a)(4)(B) of title 15, as amended by the Wall Street Transparency and Accountability Act of 2010;
(2) with respect to any proposed rule change of a clearing agency for which an extension of the time for review has been designated under [section 78s(b)(2) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78s/b/2&num=0&edition=prelim); and
(3) prior to exercising its rulemaking authorities under [section 78m(n) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78m/n&num=0&edition=prelim), as added by section 763(i) of the Wall Street Transparency and Accountability Act of 2010.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Acceptable business practices under core principles**
(1) **In general** — Consistent with the purposes of this chapter, the Commission may issue interpretations, or approve interpretations submitted to the Commission, of sections 7(d) and 7a–1(c)(2) of this title, to describe what would constitute an acceptable business practice under such sections.
(2) **Effect of interpretation** — An interpretation issued under paragraph (1) may provide the exclusive means for complying with each section described in paragraph (1).
**(b) Delegation of functions under core principles**
(1) **In general** — A contract market, derivatives transaction execution facility, or electronic trading facility with respect to a significant price discovery contract may comply with any applicable core principle through delegation of any relevant function to a registered futures association or a registered entity that is not an electronic trading facility.
(2) **Responsibility** — A contract market, derivatives transaction execution facility, or electronic trading facility that delegates a function under paragraph (1) shall remain responsible for carrying out the function.
(3) **Noncompliance** — If a contract market, derivatives transaction execution facility, or electronic trading facility that delegates a function under paragraph (1) becomes aware that a delegated function is not being performed as required under this chapter, the contract market, derivatives transaction execution facility, or electronic trading facility shall promptly take steps to address the noncompliance.
**(c) New contracts, new rules, and rule amendments**
(1) **In general** — A registered entity may elect to list for trading or accept for clearing any new contract, or other instrument, or may elect to approv
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 7a–2
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
In this subtitle, the terms “prudential regulator”, “swap”, “swap dealer”, “major swap participant”, “swap data repository”, “associated person of a swap dealer or major swap participant”, “eligible contract participant”, “swap execution facility”, “security-based swap”, “security-based swap dealer”, “major security-based swap participant”, and “associated person of a security-based swap dealer or major security-based swap participant” have the meanings given the terms in [section 1a of title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1a&num=0&edition=prelim), including any modification of the meanings under [section 8321(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section8321/a&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 8301
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Registration requirement**
(1) **Requirement; authority of derivatives clearing organization**
(A) *In general* — It shall be unlawful for any person, unless registered with the Commission, directly or indirectly to make use of the mails or any means or instrumentality of interstate commerce to perform the functions of a swap data repository.
(B) *Registration of derivatives clearing organizations* — A derivatives clearing organization may register as a swap data repository.
(2) **Inspection and examination** — Each registered swap data repository shall be subject to inspection and examination by any representative of the Commission.
(3) **Compliance with core principles**
(A) *In general* — To be registered, and maintain registration, as a swap data repository, the swap data repository shall comply with—
(i) the requirements and core principles described in this section; and
(ii) any requirement that the Commission may impose by rule or regulation pursuant to [section 12a(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section12a/5&num=0&edition=prelim).
(B) *Reasonable discretion of swap data repository* — Unless otherwise determined by the Commission by rule or regulation, a swap data repository described in subparagraph (A) shall have reasonable discretion in establishing the manner in which the swap data repository complies with the core principles described in this section.
**(b) Standard setting**
(1) **Data identification**
(A) *In general* — In accordance with subparagraph (B), the Commission shall prescribe standards that specify the data elements for each swap that shall be collected and maintained by each registered swap data repository.
(B) *Requirement* — In carrying out subparagr
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 24a
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 1945
TITLE 12—BANKS AND BANKING
§ 5492
1 See References in Text note below.
PART A—BUREAU OF CONSUMER FINANCIAL
PROTECTION
§ 5491. Establishment of the Bureau of Consumer
Financial Protection
(a) Bureau established
There is established in the Federal Reserve
System, an independent bureau to be known as
the ‘‘Bureau of Consumer Financial Protec-
tion’’, which shall regulate the offering and pro-
vision of consumer financial products or services
under the Federal consumer financial laws. The
Bureau shall be considered an Executive agency,
as defined in section 105 of title 5. Except as oth-
erwise provided expressly by law, all Federal
laws dealing with public or Federal contracts,
property, works, officers, employees, budgets, or
funds, including the provisions of chapters 5 and
7 of title 5, shall apply to the exercise of the
powers of the Bureau.
(b) Director and Deputy Director
(1) In general
There is established the position of the Di-
rector, who shall serve as the head of the Bu-
reau.
(2) Appointment
Subject to paragraph (3), the Director shall
be appointed by the President, by and with the
advice and consent of the Senate.
(3) Qualification
The President shall nominate the Director
from among individuals who are citizens of the
United States.
(4) Compensation
The Director shall be compensated at the
rate prescribed for level II of the Executive
Schedule under section 5313 of title 5.
(5) Deputy Director
There is established the position of Deputy
Director, who shall—
(A) be appointed by the Director; and
(B) serve as acting Director in the absence
or unavailability of the Director.
(c) Term
(1) In general
The Director shall serve for a term of 5
years.
(2) Expiration of term
An individual may serve as Director after
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5492
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 146
TITLE 7—AGRICULTURE
§ 24a
cally identifiable to a particular customer in a
specific capacity;
(3) the method by which the business of such
commodity broker is to be conducted or liq-
uidated after the date of the filing of the peti-
tion under such chapter, including the pay-
ment and allocation of margin with respect to
commodity contracts not specifically identifi-
able to a particular customer pending their or-
derly liquidation;
(4) any persons to which customer property
and commodity contracts may be transferred
under section 766 of title 11; and
(5) how the net equity of a customer is to be
determined.
(b) Definitions
As used in this section, the terms ‘‘commodity
broker’’, ‘‘commodity contract’’, ‘‘customer’’,
‘‘customer property’’, ‘‘member property’’, ‘‘net
equity’’, and ‘‘security’’ have the meanings as-
signed such terms for the purposes of subchapter
IV of chapter 7 of title 11.
(c) Portfolio margining accounts
The Commission shall exercise its authority
to ensure that securities held in a portfolio mar-
gining account carried as a futures account are
customer property and the owners of those ac-
counts are customers for the purposes of sub-
chapter IV of chapter 7 of title 11.
(Sept. 21, 1922, ch. 369, § 20, formerly § 19, as added
Pub. L. 95–598, title III, § 302, Nov. 6, 1978, 92 Stat.
2673; renumbered and amended Pub. L. 97–222,
§ 20, July 27, 1982, 96 Stat. 241; Pub. L. 111–203,
title VII, § 713(c), July 21, 2010, 124 Stat. 1647.)
Editorial Notes
AMENDMENTS
2010—Subsec. (c). Pub. L. 111–203 added subsec. (c).
1982—Subsec. (a)(3). Pub. L. 97–222, § 20(b), inserted
‘‘, including the payment and allocation of margin
with respect to commodity contracts not specifically
identifiable to a particular customer pending thei
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 24a
Stored review status: historical_2024_not_currentness_verified. The source passage cites 7 U.S.C. § 24a. This identifies an authority to review, not proof of applicability.