Page:United States Statutes at Large Volume 122.djvu/1455

 12 2 STA T . 1 43 2 PUBLIC LA W 11 0– 234 —M A Y 22, 200 8‘ ‘ (c c )anyperso n wh owo uldb ee x e m p tf rom re g-i stration if engaging in the same acti v ities in connec- tion with transactions conducted on or sub j ect to the rules of a contract mar k et or a derivatives transaction execution facility . ‘‘(iv) S ections 4 (b) and 4b shall apply to any agreement , contract, or transaction described in clause (i) of this subparagraph as if the agreement, contract, or transaction were a contract of sale of a commodity for future delivery. ‘‘(v) T his subparagraph shall not be construed to limit any jurisdiction that the C ommission may otherwise have under any other provision of this A ct over an agreement, contract, or transaction that is a contract of sale of a commodity for future delivery. ‘‘(vi) This subparagraph shall not be construed to limit any jurisdiction that the Commission or the Securities and E xchange Commission may otherwise have under any other provision of this Act with respect to security futures prod- ucts and persons effecting transactions in security futures products. ’ ’. (b) E F F ECTIV E DA TE. — The following provisions of the Com- modity Exchange Act, as amended by subsection (a) of this section, shall be effective 120 days after the date of the enactment of this Act or at such other time as the Commodity F utures Trading Commission shall determine

(1) Subparagraphs ( B )(i)( I I)(gg), (B)(iv), and (C)(iii) of sec- tion 2(c)(2). (2) The provisions of section 2(c)(2)(B)(i)(II)(cc) that set forth adjusted net capital re q uirements, and the provisions of such section that require a futures commission merchant to be primarily or substantially engaged in certain business activities. SEC.13 1 02 . ANTI-FR A UD AUT HO RIT Y O V ER P RINCIPA L -TO-PRINCIPAL TRANSACTIONS. Section 4b of the Commodity Exchange Act ( 7U .S.C. Section 6 b) is amended— (1) by redesignating subsections (b) and (c) as subsections (c) and (d), respectively and (2) by striking all through the end of subsection (a) and inserting the following: ‘ ‘SEC. 4b . CONTRACTS DESI G NED TO DEFRAUD OR M ISLEAD. ‘‘(a) U NL A W F U L ACTI O N S .—It shall be unlawful— ‘‘(1) for any person, in or in connection with any order to make, or the making of, any contract of sale of any commodity in interstate commerce or for future delivery that is made, or to be made, on or subject to the rules of a designated contract market, for or on behalf of any other person; or ‘‘(2) for any person, in or in connection with any order to make, or the making of, any contract of sale of any commodity for future delivery, or other agreement, contract, or transaction subject to paragraphs (1) and (2) of section 5 a(g), that is made, or to be made, for or on behalf of, or with, any other person, other than on or subject to the rules of a designated contract market— ‘‘(A) to cheat or defraud or attempt to cheat or defraud the other person; 7USC2note.Ap p licab ilit y .

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