Title 7AgricultureRelease 119-73

§19 Consideration of costs and benefits and antitrust laws

Title 7 › Chapter CHAPTER 1— - COMMODITY EXCHANGES › § 19

Last updated Apr 6, 2026|Official source

Summary

Before the Commission issues a rule or order under this law, it must weigh the costs and benefits of that action. It must look at things like protecting market participants and the public, how well futures markets work and compete, price discovery, sound risk management, and other public-interest factors. That review does not apply to orders that come from investigations or formal hearings, to emergency actions, or to factual findings about compliance. When making rules, the Commission must also consider the public interest covered by antitrust laws and try to use the least anticompetitive way to meet the goals and policies of this law when issuing orders, rules, exemptions, or approving market bylaws or rules.

Full Legal Text

Title 7, §19

Agriculture — Source: USLM XML via OLRC

(a)(1)Before promulgating a regulation under this chapter or issuing an order (except as provided in paragraph (3)), the Commission shall consider the costs and benefits of the action of the Commission.
(2)The costs and benefits of the proposed Commission action shall be evaluated in light of—
(A)considerations of protection of market participants and the public;
(B)considerations of the efficiency, competitiveness, and financial integrity of futures markets;
(C)considerations of price discovery;
(D)considerations of sound risk management practices; and
(E)other public interest considerations.
(3)This subsection does not apply to the following actions of the Commission:
(A)An order that initiates, is part of, or is the result of an adjudicatory or investigative process of the Commission.
(B)An emergency action.
(C)A finding of fact regarding compliance with a requirement of the Commission.
(b)The Commission shall take into consideration the public interest to be protected by the antitrust laws and endeavor to take the least anticompetitive means of achieving the objectives of this chapter, as well as the policies and purposes of this chapter, in issuing any order or adopting any Commission rule or regulation (including any exemption under section 6(c) or 6c(b) of this title), or in requiring or approving any bylaw, rule, or regulation of a contract market or registered futures association established pursuant to section 21 of this title.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2000—Pub. L. 106–554 inserted section catchline, added subsec. (a), designated existing provisions as subsec. (b), and inserted subsec. (b) heading. 1992—Pub. L. 102–546 substituted “regulation (including any exemption under section 6(c) or 6c(b) of this title)” for “regulation”.

Statutory Notes and Related Subsidiaries

Effective Date

For

Effective Date

of section, see section 418 of Pub. L. 93–463, set out as an

Effective Date

of 1974 Amendment note under section 2 of this title.

Reference

Citations & Metadata

Citation

7 U.S.C. § 19

Title 7Agriculture

Last Updated

Apr 6, 2026

Release point: 119-73