PRIA, Government Policy, Made Personal

Summary

Certain futures firms the Commission oversees must be treated as financial institutions under Title V of the Gramm‑Leach‑Bliley Act when they do financial activities. The Commission is treated as a Federal functional regulator and must issue Title V rules within 6 months after December 21, 2000.

Title 7, §7b–2

Agriculture, Source: USLM XML via OLRC

(a)Notwithstanding section 509(3)(B) of the Gramm-Leach-Bliley Act [15 U.S.C. 6809(3)(B)], any futures commission merchant, commodity trading advisor, commodity pool operator, or introducing broker that is subject to the jurisdiction of the Commission under this chapter with respect to any financial activity shall be treated as a financial institution for purposes of title V of such Act [15 U.S.C. 6801 et seq.] with respect to such financial activity.

(b)For purposes of title V of such Act [15 U.S.C. 6801 et seq.], the Commission shall be treated as a Federal functional regulator within the meaning of section 509(2) of such Act [15 U.S.C. 6809(2)] and shall prescribe regulations under such title within 6 months after December 21, 2000.

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Gramm-Leach-Bliley Act, referred to in text, is Pub. L. 106–102, Nov. 12, 1999, 113 Stat. 1338. Title V of the Act is classified principally to chapter 94 (§ 6801 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see

Short Title

of 1999 Amendment note set out under section 1811 of Title 12, Banks and Banking, and Tables.

§7b–2 Privacy