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

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 or derivatives transaction execution facility, 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—
(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 or electronic trading facility, 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.

Source

(Sept. 21, 1922, ch. 369, § 4i, as added June 15, 1936, ch. 545, § 5,49 Stat. 1496; amended Pub. L. 90–258, § 9,Feb. 19, 1968, 82 Stat. 28; Pub. L. 93–463, title I, § 103(a), (f),Oct. 23, 1974, 88 Stat. 1392; Pub. L. 97–444, title II, § 211,Jan. 11, 1983, 96 Stat. 2303; Pub. L. 106–554, § 1(a)(5) [title I, § 123(a)(9)], Dec. 21, 2000, 114 Stat. 2763, 2763A–407; Pub. L. 110–234, title XIII, § 13202(b),May 22, 2008, 122 Stat. 1439; Pub. L. 110–246, § 4(a), title XIII, § 13202(b),June 18, 2008, 122 Stat. 1664, 2201.)
Codification

Pub. L. 110–234and Pub. L. 110–246made identical amendments to this section. The amendments by Pub. L. 110–234were repealed by section 4(a) ofPub. L. 110–246.
Amendments

2008—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”.
2000—Pub. L. 106–554inserted “or derivatives transaction execution facility” after “contract market” in introductory provisions.
1983—Pub. L. 97–444amended 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.
1974—Pub. L. 93–463substituted “Commission” for “Secretary of Agriculture” and “United States Department of Agriculture”.
1968—Pub. L. 90–258required 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.
Effective Date of 2008 Amendment

Amendment of this section and repeal of Pub. L. 110–234by Pub. L. 110–246effective May 22, 2008, the date of enactment of Pub. L. 110–234, except as otherwise provided, see section 4 ofPub. L. 110–246, set out as an Effective Date note under section 8701 of this title.
Amendment by section 13202(b) ofPub. L. 110–246effective June 18, 2008, see section 13204(a) ofPub. L. 110–246, set out as a note under section 2 of this title.
Effective Date of 1983 Amendment

Amendment by Pub. L. 97–444effective Jan. 11, 1983, see section 239 ofPub. L. 97–444, set out as a note under section 2 of this title.
Effective Date of 1974 Amendment

For effective date of amendment by Pub. L. 93–463, see section 418 ofPub. L. 93–463, set out as a note under section 2 of this title.
Effective Date of 1968 Amendment

Amendment by Pub. L. 90–258effective 120 days after Feb. 19, 1968, see section 28 ofPub. L. 90–258, set out as a note under section 2 of this title.
Effective Date

For effective date of section, see section 13 of act June 15, 1936, set out as an Effective Date of 1936 Amendment note under section 1 of this title.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


17 CFR - Commodity and Securities Exchanges

17 CFR Part 1 - GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT

17 CFR Part 3 - REGISTRATION

17 CFR Part 5 - OFF-EXCHANGE FOREIGN CURRENCY TRANSACTIONS

17 CFR Part 15 - REPORTS—GENERAL PROVISIONS

17 CFR Part 16 - REPORTS BY CONTRACT MARKETS AND SWAP EXECUTION FACILITIES

17 CFR Part 17 - REPORTS BY REPORTING MARKETS, FUTURES COMMISSION MERCHANTS, CLEARING MEMBERS, AND FOREIGN BROKERS

17 CFR Part 18 - REPORTS BY TRADERS

17 CFR Part 19 - REPORTS BY PERSONS HOLDING BONA FIDE HEDGE POSITIONS PURSUANT TO § 1.3(z) OF THIS CHAPTER AND BY MERCHANTS AND DEALERS IN COTTON

17 CFR Part 21 - SPECIAL CALLS

17 CFR Part 33 - REGULATION OF COMMODITY OPTION TRANSACTIONS THAT ARE OPTIONS ON CONTRACTS OF SALE OF A COMMODITY FOR FUTURE DELIVERY

17 CFR Part 38 - DESIGNATED CONTRACT MARKETS

 

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