To amend the Commodity Exchange Act to clarify treatment of privileged information after disclosure to the Commodity Futures Trading Commission, and for other purposes.

I 116TH CONGRESS 1ST SESSION H. R. 4325 To amend the Commodity Exchange Act to clarify treatment of privileged information after disclosure to the Commodity Futures Trading Commis- sion, and for other purposes. IN THE HOUSE OF REPRESENTATIVES SEPTEMBER 12, 2019 Mr. VAN DREW introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Commodity Exchange Act to clarify treatment of privileged information after disclosure to the Com- modity Futures Trading Commission, and for other pur- poses. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. PRIVILEGE RETENTION. 3 Section 8 of the Commodity Exchange Act (7 U.S.C. 4 12) is amended— 5 (1) by redesignating subsections (h) and (i) as 6 subsections (i) and (j), respectively; and 7 VerDate Sep 11 2014 03:23 Sep 14, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H4325.IH H4325 kjohnson on DSK79L0C42 with BILLS 2 •HR 4325 IH (2) by inserting after subsection (g) the fol- 1 lowing: 2 ‘‘(h) SHARING PRIVILEGED INFORMATION WITH 3 OTHER AUTHORITIES.— 4 ‘‘(1) DEFINITIONS.—In this subsection: 5 ‘‘(A) FOREIGN LAW ENFORCEMENT AU- 6 THORITY.—The term ‘foreign law enforcement 7 authority’ means any foreign authority that is 8 empowered under foreign law to detect, inves- 9 tigate, or prosecute potential violations of law. 10 ‘‘(B) PRIVILEGE.—The term ‘privilege’ in- 11 cludes any applicable work-product privilege, at- 12 torney-client privilege, governmental privilege, 13 or other privilege recognized under Federal, 14 State, or foreign law. 15 ‘‘(2) PRIVILEGED INFORMATION PROVIDED BY 16 THE COMMISSION.—The Commission shall not be 17 considered to have waived any privilege by transfer- 18 ring information to or permitting that information 19 to be used in accordance with subsection (e). 20 ‘‘(3) NONDISCLOSURE OF PRIVILEGED INFOR- 21 MATION PROVIDED TO THE COMMISSION.—The Com- 22 mission shall not be compelled to disclose privileged 23 information obtained from any foreign futures au- 24 thority, or foreign law enforcement authority, if the 25 VerDate Sep 11 2014 03:23 Sep 14, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H4325.IH H4325 kjohnson on DSK79L0C42 with BILLS 3 •HR 4325 IH authority has in good faith determined and rep- 1 resented to the Commission that the information is 2 privileged. 3 ‘‘(4) NONWAIVER OF PRIVILEGED INFORMATION 4 PROVIDED TO THE COMMISSION.—The entities listed 5 in subsection (e) shall not be considered to have 6 waived any privilege by transferring information to 7 or permitting information to be used by the Commis- 8 sion.’’. 9 Æ VerDate Sep 11 2014 03:23 Sep 14, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H4325.IH H4325 kjohnson on DSK79L0C42 with BILLS