To amend the Commodity Exchange Act to provide greater protection of proprietary information of other registered entities, and for other purposes.

I 116TH CONGRESS 1ST SESSION H. R. 4251 To amend the Commodity Exchange Act to provide greater protection of proprietary information of other registered entities, and for other purposes. IN THE HOUSE OF REPRESENTATIVES SEPTEMBER 9, 2019 Mrs. HAYES introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Commodity Exchange Act to provide greater protection of proprietary information of other registered entities, 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. DISCLOSURE OF REQUIRED DATA OF OTHER 3 REGISTERED ENTITIES. 4 Section 8 of the Commodity Exchange Act (7 U.S.C. 5 12) is amended by adding at the end the following: 6 ‘‘(j) DISCLOSURE OF REQUIRED DATA OF OTHER 7 REGISTERED ENTITIES.— 8 ‘‘(1) Except as provided in this subsection, the 9 Commission may not be compelled to disclose any 10 VerDate Sep 11 2014 01:34 Sep 10, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H4251.IH H4251 pamtmann on DSKBC07HB2PROD with BILLS 2 •HR 4251 IH proprietary information provided to the Commission, 1 except that nothing in this subsection— 2 ‘‘(A) authorizes the Commission to with- 3 hold information from Congress; or 4 ‘‘(B) prevents the Commission from— 5 ‘‘(i) complying with a request for in- 6 formation from any other Federal depart- 7 ment or agency, any State or political sub- 8 division thereof, or any foreign government 9 or any department, agency, or political 10 subdivision thereof requesting the report or 11 information for purposes within the scope 12 of its jurisdiction, upon an agreement of 13 confidentiality to protect the information 14 in a manner consistent with this paragraph 15 and subsection (e); or 16 ‘‘(ii) making a disclosure made pursu- 17 ant to a court order in connection with an 18 administrative or judicial proceeding 19 brought under this Act, in any receivership 20 proceeding involving a receiver appointed 21 in a judicial proceeding brought under this 22 Act, or in any bankruptcy proceeding in 23 which the Commission has intervened or in 24 which the Commission has the right to ap- 25 VerDate Sep 11 2014 01:34 Sep 10, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H4251.IH H4251 pamtmann on DSKBC07HB2PROD with BILLS 3 •HR 4251 IH pear and be heard under title 11 of the 1 United States Code. 2 ‘‘(2) Any proprietary information of a com- 3 modity trading advisor or commodity pool operator 4 ascertained by the Commission in connection with 5 Form CPO–PQR, Form CTA–PR, and any suc- 6 cessor forms thereto, shall be subject to the same 7 limitations on public disclosure, as any facts 8 ascertained during an investigation, as provided by 9 subsection (a); provided, however, that the Commis- 10 sion shall not be precluded from publishing aggre- 11 gate information compiled from such forms, to the 12 extent such aggregate information does not identify 13 any individual person or firm, or such person’s pro- 14 prietary information. 15 ‘‘(3) For purposes of section 552 of title 5, 16 United States Code, this subsection, and the infor- 17 mation contemplated herein, shall be considered a 18 statute described in subsection (b)(3)(B) of such 19 section 552. 20 ‘‘(4) For purposes of the definition of propri- 21 etary information in paragraph (5), the records and 22 reports of any client account or commodity pool to 23 which a commodity trading advisor or commodity 24 pool operator registered under this title provides 25 VerDate Sep 11 2014 01:34 Sep 10, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H4251.IH H4251 pamtmann on DSKBC07HB2PROD with BILLS 4 •HR 4251 IH services that are filed with the Commission on Form 1 CPO–PQR, CTA–PR, and any successor forms 2 thereto, shall be deemed to be the records and re- 3 ports of the commodity trading advisor or com- 4 modity pool operator, respectively. 5 ‘‘(5) For purposes of this section, proprietary 6 information of a commodity trading advisor or com- 7 modity pool operator includes sensitive, non-public 8 information regarding— 9 ‘‘(A) the commodity trading advisor, com- 10 modity pool operator or the trading strategies 11 of the commodity trading advisor or commodity 12 pool operator; 13 ‘‘(B) analytical or research methodologies 14 of a commodity trading advisor or commodity 15 pool operator; 16 ‘‘(C) trading data of a commodity trading 17 advisor or commodity pool operator; and 18 ‘‘(D) computer hardware or software con- 19 taining intellectual property of a commodity 20 trading advisor or commodity pool operator.’’. 21 Æ VerDate Sep 11 2014 01:34 Sep 10, 2019 Jkt 089200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6301 E:\BILLS\H4251.IH H4251 pamtmann on DSKBC07HB2PROD with BILLS