Title 7AgricultureRelease 119-73

§7b Suspension or revocation of designation as registered entity

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

Last updated Apr 6, 2026|Official source

Summary

If a registered entity breaks the chapter's rules or a Commission order, the Commission can suspend it up to 180 days or revoke its registration, using procedures and allowing court review.

Full Legal Text

Title 7, §7b

Agriculture — Source: USLM XML via OLRC

The failure of a registered entity to comply with any provision of this chapter, or any regulation or order of the Commission under this chapter, shall be cause for the suspension of the registered entity for a period not to exceed 180 days, or revocation of designation as a registered entity, in accordance with the procedures and subject to the judicial review provided in section 8(b) of this title.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Pub. L. 110–234 and Pub. L. 110–246 made identical

Amendments

to this section. The

Amendments

by Pub. L. 110–234 were repealed by section 4(a) of Pub. L. 110–246.

Amendments

2010—Pub. L. 111–203 struck out “or revocation of the right of an electronic trading facility to rely on the exemption set forth in section 2(h)(3) of this title with respect to a significant price discovery contract,” after “or revocation of designation as a registered entity,”. 2008—Pub. L. 110–246, § 13203(l), inserted “, or revocation of the right of an electronic trading facility to rely on the exemption set forth in section 2(h)(3) of this title with respect to a significant price discovery contract,” after “designation as a registered entity”. 2000—Pub. L. 106–554, § 1(a)(5) [title I, § 115], amended section generally. Prior to amendment, section read as follows: “The failure or refusal of any board of trade to comply with any of the provisions of this chapter, or any of the rules,

Regulations

, or orders of the Commission or the commission thereunder, shall be cause for suspending for a period not to exceed six months or revoking the designation of such board of trade as a ‘contract market’ in accordance with the procedure and subject to the judicial review provided in section 8(b) of this title.” 1992—Pub. L. 102–546 substituted reference to section 8(b) of this title for reference to section 8 of this title. 1974—Pub. L. 93–463, § 103(a), provided for substitution of “Commission” for “Secretary of Agriculture” except where such words would be stricken by section 103(b), which directed striking the words “the Secretary of Agriculture or” where they appeared in the phrase “the Secretary of Agriculture or the Commission”. Because the word “commission” was not capitalized in the text of this section, section 103(b) did not apply to this section and therefore section 103(a) was executed, resulting in the substitution of “the Commission or the commission” for “the Secretary of Agriculture or the commission”. 1968—Pub. L. 90–258 substituted “rules,

Regulations

, or orders of the Secretary of Agriculture or the commission” for “

Rules and Regulations

of the Secretary of Agriculture”.

Statutory Notes and Related Subsidiaries

Effective Date

of 2010 AmendmentAmendment by Pub. L. 111–203 effective on the later of 360 days after July 21, 2010, or, to the extent a provision of subtitle A (§§ 711–754) of title VII of Pub. L. 111–203 requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle A, see section 754 of Pub. L. 111–203, set out as a note under section 1a of this title.

Effective Date

of 2008 AmendmentAmendment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, except as otherwise provided, see section 4 of Pub. L. 110–246, set out as an

Effective Date

note under section 8701 of this title. Amendment by section 13203(l) of Pub. L. 110–246 effective June 18, 2008, see section 13204(a) of Pub. L. 110–246, set out as a note under section 2 of this title.

Effective Date

of 1974 AmendmentFor

Effective Date

of amendment by Pub. L. 93–463, see section 418 of Pub. L. 93–463, set out as a note under section 2 of this title.

Effective Date

of 1968 AmendmentAmendment by Pub. L. 90–258 effective 120 days after Feb. 19, 1968, see section 28 of Pub. L. 90–258, set out as a note under section 2 of this title.

Effective Date

For

Effective Date

of section, see section 13 of act June 15, 1936, set out as an

Effective Date

of 1936 Amendment note under section 1 of this title.

Reference

Citations & Metadata

Citation

7 U.S.C. § 7b

Title 7Agriculture

Last Updated

Apr 6, 2026

Release point: 119-73