PROTECT Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jun 6, 2013)
Protection from Rogue Oil Traders Engaging in Computerized Trading Act or PROTECT Act - Amends the Commodities Exchange Act to make it unlawful to engage in an activity that the Commodities Futures Trading Commission (CFTC) has defined as high frequency trading, unless the person has registered with the CFTC as a high frequency trader, and the registration has neither expired nor been suspended or revoked.
Prescribes requirements governing high frequency trading.
Requires the fine for a high frequency trading violation to be based on the number of seconds, including fractions of seconds, during which the violation continued.
Authorizes the CFTC to define the scope of any violation for purposes of determining the number involved in any civil case arising under this Act.
Increases the civil penalties for violations of the prohibition against manipulation and false information with respect to swaps and commodities.
What just happenedJun 25, 2013
Referred to the Subcommittee on General Farm Commodities and Risk Management.
Who’s behind it
- Introduced in HouseJun 6, 2013
- Jun 25, 2013Committee
Referred to the Subcommittee on General Farm Commodities and Risk Management.
- Jun 6, 2013IntroReferralH11100
Referred to the House Committee on Agriculture.
- Jun 6, 2013IntroReferralB00100
Sponsor introductory remarks on measure. (CR E817)
- Jun 6, 2013IntroReferralIntro-H
Introduced in House
- Jun 6, 2013IntroReferral1000
Introduced in House