CFTC Protection of Information and Data Act of 2026
Sponsored By: Representative Messmer, Mark B. [R-IN-8]
In Committee
Summary
Expanded disclosure and privilege-protected information sharing. This bill would rewrite Section 8 of the Commodity Exchange Act to define who the Commodity Futures Trading Commission can share trader data with and how legal privileges are handled when that data moves across agencies or borders.
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- Traders and market participants: Would let the Commission disclose names, addresses, and trading amounts publicly only where those details have already been publicly released under the same rule. This targets transparency about who trades and how much they trade but limits new public revelations.
- Federal, state, and foreign authorities: Would allow federal departments, State agencies, and qualified foreign authorities to request Commission-held information. Each disclosure comes with limits on further redistribution and typically bars disclosure except in adjudicatory actions or in U.S. legal proceedings.
- Legal counsel and privilege: Would define “privilege” to include attorney‑client and work‑product protections and state that sharing information under the new rules generally does not waive those privileges. The bill also makes clear the Commission cannot use this rule to withhold information from Congress or to avoid complying with U.S. court orders.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 0 benefits, 0 costs, 3 mixed.
CFTC data sharing with governments
If enacted, the CFTC would be able to share information it holds with U.S. departments and agencies, Federal Reserve Banks when acting for the Board, State and local agencies, and qualified foreign authorities when they request it. Federal recipients would only be able to disclose the information in a U.S. legal action or proceeding where the agency, the CFTC, or the United States is a party. State recipients would only be able to disclose the information in state adjudicatory proceedings where they are a party. The CFTC would only share with foreign recipients when it is satisfied they will not disclose the information except in foreign adjudicatory proceedings.
Congress and public access to trader data
If enacted, any congressional committee acting within its jurisdiction would be able to request the names and addresses of traders on boards of trade and how much of any commodity each trader bought or sold, and the CFTC would have to provide that information. The CFTC would also be able to make public trader names, addresses, and trade amounts only when those details were already publicly disclosed under this section.
Protections for privileged CFTC records
If enacted, the bill would define privileged information to include attorney‑client, work‑product, governmental, and similar protections under U.S., state, or foreign law. It would say that sharing information with the CFTC or listed authorities would not automatically waive those privileges. It would also clarify that the CFTC could not withhold information from Congress or refuse to comply with a U.S. court order in a United States or CFTC action.
Sponsors & CoSponsors
Sponsor
Messmer, Mark B. [R-IN-8]
IN • R
Cosponsors
Rep. Budzinski, Nikki [D-IL-13]
IL • D
Sponsored 6/3/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov