§16a Service Fees and National Futures Association Study

Summary

Allows the Commodity Futures Trading Commission to create a plan to charge reasonable fees to cover the estimated cost of regulating the transactions it oversees. The Commission must first tell the House Committee on Agriculture and the Senate Committee on Agriculture, Nutrition, and Forestry about the plan and explain whether collecting the fees is feasible and desirable. The plan cannot start until both committees approve it. Fees collected under an approved plan must be deposited in the U.S. Treasury as miscellaneous receipts. The Commission may also set a fee schedule for services after public notice and a hearing, but any fee for a specific service cannot be more than the Commission’s actual cost. Requires the Commission to study the National Futures Association’s regulatory work from January 1, 1983 through September 30, 1985 and send a report to Congress by January 1, 1986. The report must cover seven topics, including how fully the NFA carried out approved programs, cost savings or costs to the government and the public, problems encountered, the working relationship with the Commission, and how the NFA’s work affects the Commission’s focus and efficiency.