II 116TH CONGRESS 1ST SESSION S. 1953 To amend the Commodity Exchange Act to extend the jurisdiction of the Commodity Futures Trading Commission to include the setting of ref- erence prices for aluminum premiums, and for other purposes. IN THE SENATE OF THE UNITED STATES JUNE 25, 2019 Mr. GARDNER (for himself and Ms. BALDWIN) introduced the following bill; which was read twice and referred to the Committee on Banking, Hous- ing, and Urban Affairs A BILL To amend the Commodity Exchange Act to extend the juris- diction of the Commodity Futures Trading Commission to include the setting of 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 22:47 Jun 27, 2019 Jkt 034408 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1953.IS S1953 pbinns on DSK79D2C42PROD with BILLS 2 •S 1953 IS SEC. 2. JURISDICTION OF THE COMMODITY FUTURES 1 TRADING COMMISSION OVER THE SETTING 2 OF REFERENCE PRICES FOR ALUMINUM PRE- 3 MIUMS. 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) REFERENCE PRICES FOR ALUMINUM 8 PREMIUMS.— 9 ‘‘(i) DEFINITIONS.—In this subpara- 10 graph: 11 ‘‘(I) PREMIUM.—The term ‘pre- 12 mium’ has the meaning given the 13 term in section 1.3 of title 17, Code 14 of Federal Regulations (or successor 15 regulations). 16 ‘‘(II) REFERENCE PRICE.—The 17 term ‘reference price’ has the meaning 18 given the term ‘commodity reference 19 price’ in section 20.1 of title 17, Code 20 of Federal Regulations (or successor 21 regulations). 22 ‘‘(ii) JURISDICTION.—The Commis- 23 sion shall have exclusive jurisdiction over 24 the setting of reference prices for alu- 25 minum premiums. 26 VerDate Sep 11 2014 22:47 Jun 27, 2019 Jkt 034408 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S1953.IS S1953 pbinns on DSK79D2C42PROD with BILLS 3 •S 1953 IS ‘‘(iii) CONSULTATION WITH ATTORNEY 1 GENERAL.— 2 ‘‘(I) IN GENERAL.—The Commis- 3 sion shall consult with the Attorney 4 General on any relevant information, 5 allegations of anticompetitive conduct, 6 or marketplace analysis in the setting 7 or reporting of a reference price under 8 clause (ii). 9 ‘‘(II) REVIEW BY ATTORNEY 10 GENERAL.—The Commission shall af- 11 ford the Attorney General an oppor- 12 tunity to review any regulation or 13 guideline proposed by the Commission 14 in carrying out this subparagraph to 15 ensure that the regulation or guideline 16 is consistent with the goals and pur- 17 poses of the antitrust laws. 18 ‘‘(III) AUTHORITIES AND DUTIES 19 OF ATTORNEY GENERAL.—The Attor- 20 ney General— 21 ‘‘(aa) may cooperate, and 22 share relevant information, with 23 the Commission with respect to 24 VerDate Sep 11 2014 22:47 Jun 27, 2019 Jkt 034408 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S1953.IS S1953 pbinns on DSK79D2C42PROD with BILLS 4 •S 1953 IS the setting of a reference price 1 under clause (ii); and 2 ‘‘(bb) shall— 3 ‘‘(AA) review any pro- 4 posed regulation or guideline 5 described in subclause (II) 6 to ensure that the regulation 7 or guideline is consistent 8 with the goals and purposes 9 of the antitrust laws; and 10 ‘‘(BB) submit to the 11 Commission the analysis and 12 opinion of the Attorney Gen- 13 eral on that proposed regu- 14 lation or guideline.’’. 15 Æ VerDate Sep 11 2014 22:47 Jun 27, 2019 Jkt 034408 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\S1953.IS S1953 pbinns on DSK79D2C42PROD with BILLS