7 U.S.C. § 6i
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-
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.
7 U.S.C. § 6i
EDITORIAL NOTES
CODIFICATION Pub. L. 110-234 and Pub. L. 110-246 made identical amendments to this section. The amendments by Pub. L. 110-234 were repealed by section 4(a) of Pub. L. 110-246.
AMENDMENTS2008- 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. 106-554 inserted "or derivatives transaction execution facility" after "contract market" in introductory provisions. 1983- Pub. L. 97-444 amended 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. 93-463 substituted "Commission" for "Secretary of Agriculture" and "United States Department of Agriculture".1968- Pub. L. 90-258 required 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.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE OF 2008 AMENDMENT Amendment of this section and repeal of Pub. L. 110-234 by Pub. L. 110-246 effective May 22, 2008, the date of enactment of Pub. L. 110-234 except as otherwise provided, see section 4 of Pub. L. 110-246 set out as an Effective Date note under section 8701 of this title. Amendment by section 13202(b) of Pub. L. 110-246 effective June 18, 2008, see section 13204(a) of Pub. L. 110-246 set out as a note under section 2 of this title.
EFFECTIVE DATE OF 1983 AMENDMENT Amendment by Pub. L. 97-444 effective Jan. 11, 1983, see section 239 of Pub. L. 97-444 set out as a note under section 2 of this title.
EFFECTIVE DATE OF 1974 AMENDMENTFor effective date of amendment by Pub. L. 93-463 see section 418 of Pub. L. 93-463 set out as a note under section 2 of this title.
EFFECTIVE DATE OF 1968 AMENDMENT Amendment by Pub. L. 90-258 effective 120 days after Feb. 19, 1968, see section 28 of Pub. L. 90-258 set out as a note under section 2 of this title.
EFFECTIVE DATEFor 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.
- Commission
- The term "Commission" means the Commodity Futures Trading Commission established under section 2(a)(2) of this title.
- board of trade
- The term "board of trade" means any organized exchange or other trading facility.
- electronic trading facility
- The term "electronic trading facility" means a trading facility that-(A) operates by means of an electronic or telecommunications network; and(B) maintains an automated audit trail of bids, offers, and the matching of orders or the execution of transactions on the facility.
- significant price discovery contract
- The term "significant price discovery contract" means an agreement, contract, or transaction subject to section 2(h)(5) of this title.