Page:United States Statutes at Large Volume 124.djvu/1775

 124 STAT. 1749 PUBLIC LAW 111–203—JULY 21, 2010 (b), including recommendations for the oversight of existing and prospective carbon markets to ensure an efficient, secure, and trans- parent carbon market, including oversight of spot markets and derivative markets. SEC. 751. ENERGY AND ENVIRONMENTAL MARKETS ADVISORY COM- MITTEE. Section 2(a) of the Commodity Exchange Act (7 U.S.C. 2(a)) (as amended by section 727) is amended by adding at the end the following: ‘‘(15) ENERGY AND ENVIRONMENTAL MARKETS ADVISORY COMMITTEE.— ‘‘(A) ESTABLISHMENT.— ‘‘(i) IN GENERAL.—An Energy and Environmental Markets Advisory Committee is hereby established. ‘‘(ii) MEMBERSHIP.—The Committee shall have 9 members. ‘‘(iii) ACTIVITIES.—The Committee’s objectives and scope of activities shall be— ‘‘(I) to conduct public meetings; ‘‘(II) to submit reports and recommendations to the Commission (including dissenting or minority views, if any); and ‘‘(III) otherwise to serve as a vehicle for discus- sion and communication on matters of concern to exchanges, firms, end users, and regulators regarding energy and environmental markets and their regulation by the Commission. ‘‘(B) REQUIREMENTS.— ‘‘(i) IN GENERAL.—The Committee shall hold public meetings at such intervals as are necessary to carry out the functions of the Committee, but not less fre- quently than 2 times per year. ‘‘(ii) MEMBERS.—Members shall be appointed to 3-year terms, but may be removed for cause by vote of the Commission. ‘‘(C) APPOINTMENT.—The Commission shall appoint members with a wide diversity of opinion and who rep- resent a broad spectrum of interests, including hedgers and consumers. ‘‘(D) REIMBURSEMENT.—Members shall be entitled to per diem and travel expense reimbursement by the Commission. ‘‘(E) FACA.—The Committee shall not be subject to the Federal Advisory Committee Act (5 U.S.C. App.) .’’. SEC. 752. INTERNATIONAL HARMONIZATION. (a) In order to promote effective and consistent global regulation of swaps and security-based swaps, the Commodity Futures Trading Commission, the Securities and Exchange Commission, and the prudential regulators (as that term is defined in section 1a(39) of the Commodity Exchange Act), as appropriate, shall consult and coordinate with foreign regulatory authorities on the establish- ment of consistent international standards with respect to the regu- lation (including fees) of swaps, security-based swaps, swap entities, and security-based swap entities and may agree to such informa- tion-sharing arrangements as may be deemed to be necessary or Securities. Consultation. Standards. 15 USC 8325. Public meetings.