APEX Act

I 117TH CONGRESS 1ST SESSION H. R. 2698 To extend the jurisdiction of the Commodity Futures Trading Commission to include oversight of markets which set reference prices for aluminum premiums, and for other purposes. IN THE HOUSE OF REPRESENTATIVES APRIL 20, 2021 Mr. LAWSON of Florida (for himself and Mr. BUCK) introduced the following bill; which was referred to the Committee on Agriculture A BILL To extend the jurisdiction of the Commodity Futures Trad- ing Commission to include oversight of markets which set reference prices for aluminum premiums, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Aluminum Pricing Ex- 4 amination Act’’ or the ‘‘APEX Act’’. 5 VerDate Sep 11 2014 23:41 Jun 02, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2698.IH H2698 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 2698 IH SEC. 2. JURISDICTION OF THE COMMODITY FUTURES 1 TRADING COMMISSION OVER MARKETS 2 WHICH SET OR REPORT REFERENCE PRICES 3 FOR ALUMINUM PREMIUMS. 4 Section 2(a)(1) of the Commodity Exchange Act (7 5 U.S.C. 2(a)(1)) is amended by adding at the end the fol- 6 lowing: 7 ‘‘(J)(i) The Commission shall have jurisdiction over 8 the markets, including the process, oversight, trans- 9 parency, and manner in which reference prices for alu- 10 minum premiums are set or reported, and whether the 11 mechanism for setting such reference prices is fair and 12 transparent. However, nothing in this Act shall be con- 13 strued to grant the Commission the authority to set or 14 control prices for aluminum premiums. 15 ‘‘(ii)(I) The Commission shall consult with the Attor- 16 ney General on any relevant information, allegations of 17 anticompetitive conduct, or marketplace analysis in the 18 setting or reporting of such a reference price. 19 ‘‘(II) The Commission shall afford the Attorney Gen- 20 eral an opportunity to review any regulation or guideline 21 proposed by the Commission in carrying out this subpara- 22 graph to ensure that the regulation or guideline is con- 23 sistent with the goals and purposes of the antitrust laws. 24 ‘‘(III) The Attorney General may cooperate with, and 25 share relevant information with, the Commission, with re- 26 VerDate Sep 11 2014 23:41 Jun 02, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H2698.IH H2698 kjohnson on DSK79L0C42PROD with BILLS 3 •HR 2698 IH spect to the setting of such a reference price, and shall 1 review any such proposed regulation or guideline to ensure 2 that the regulation or guideline is in accordance with the 3 goals and purposes of the antitrust laws. 4 ‘‘(IV) The Attorney General shall transmit to the 5 Commission the views of the Attorney General on any such 6 proposed regulation or guideline.’’. 7 Æ VerDate Sep 11 2014 23:41 Jun 02, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H2698.IH H2698 kjohnson on DSK79L0C42PROD with BILLS