Page:United States Statutes at Large Volume 106 Part 4.djvu/864

 106 STAT. 3600 PUBLIC LAW 102-546—OCT. 28, 1992 "(1) PERSONS. —Any person, other than a contract market, aggrieved by a deficiency order issued under subsection (b)(4), may obtain review of such deficiency order when issued by the Commission under the terms and conditions in section 6(b). "(2) CONTRACT MARKETS.—Any contract market that has petitioned the Commission to rescind, modify, or delay any proposed deficiency order issued under subsection (b) may obtain judicial review of any final such deficiency order only in the United States Court of Appeals for the circuit in whicn the party seeking review resides or has its principal place of business, or in the United States Court of Appeals for the District of Columbia Circuit, under the standards applicable to rulemaking proceedings under section 553 of title 5, United States Code.". SEC. 203. ORAL ORDERS. (a) IN GENERAL. —Section 4c (7 U.S.C. 6c) is amended by adding at the end the following new subsection: "(g) The Commission shall adopt rules requiring that a contemporaneous written record be made, as practicable, of all orders for execution on the floor or subject to the rules of each contract market placed by a member of the contract market who is present on the floor at the time such order is placed.". 7 USC 6c note. (b) EFFECTIVE DATE.— The Commission shall adopt the rules required by the amendment made under subsection (a) within two hundred and seventy days after the date of enactment of this Act. SEC. 204. TELEMARKETING FRAUD. (a) IN GENERAL.— Sectioyi 17(p) (7 U.S.C. 21(p)) is amended— (1) by striking "and" at the end of paragraph (2); (2) by striking the period at the end of paragraph (3) and inserting "; and"; and (3) by adding at the end the following new paragraph: "(4) establish special supervisory guidelines to protect the public interest relating to the solicitation by telephone of new futures or options accounts and make such guidelines applicable to those members determined to require such guidelines in accordance with standards established by the Commission consistent with this Act. Such guidelines may include a requirement that, with respect to a customer with no previous futures or commodity options trading experience, the member may not enter an order for the account of such customer for a period of three days following opening of the account and receipt of a signed acknowledgment by the customer of receipt of a risk disclosure statement.". 7 USC 21 note. (b) IMPLEMENTATION.—The guidelines required under section 17(p)(4) of the Commodity Exchange Act (as added by subsection (a) of this section) shall be submitted by a futures association registered with the Commodity Futures Trading Commission on the date of enactment of this Act to the Commission for the approval of the Commission not later than one hundred and eighty days after the date of enactment of this Act. SEC. 205. UNDERCOVER OPERATIONS AND ENFORCEMENT. Section 8(a) of the Commodity Exchange Act (7 U.S.C. 12(a)) is amended by—

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