H.R. 1256 - Swap Jurisdiction Certainty Act

Finance and financial sector. 113th Congress (2013-2014) View bill details
Sponsor:
Summary:
To direct the Securities and Exchange Commission and the Commodity Futures Trading Commission to jointly adopt rules setting forth the application to cross-border swaps transactions of certain provisions relating to swaps that were enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. (by CRS) 
Status:
The bill was voted on in the House on June 12, 2013 
House Vote: On Passage

PASSED on June 12, 2013.

voted YES: 0 voted NO: 0
1 voted present/not voting

Other Votes:

Swap Jurisdiction Certainty Act

H.R. 1256 — 113th Congress (2013–2014)

Summary
To direct the Securities and Exchange Commission and the Commodity Futures Trading Commission to jointly adopt rules setting forth the application to cross-border swaps transactions of certain provisions relating to swaps that were enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. (by CRS)
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At OpenCongress
Title
To direct the Securities and Exchange Commission and the Commodity Futures Trading Commission to jointly adopt rules setting forth the application to cross-border swaps transactions of certain provisions relating to swaps that were enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Other Titles
  • Swap Jurisdiction Certainty Act
  • Swap Jurisdiction Certainty Act
  • Swap Jurisdiction Certainty Act
  • Swap Jurisdiction Certainty Act
Sponsor
Scott Garrett
Co-Sponsors
Subjects
  • Finance and financial sector
  • Administrative law and regulatory procedures
  • Commodities markets
  • Commodity Futures Trading Commission
  • Securities
  • Securities and Exchange Commission (SEC)
Related Bills
Major Actions
Introduced3/19/2013
Referred to Committee
Passed House6/12/2013
Bill History
Chamber/CommitteeMotionDateResult
select this voteHouseOn Motion to Recommit with Instructions: H R 1256 Swap Jurisdiction Certainty Act6/12/2013This motion DID NOT PASS the House
0 voted YES 0 voted NO 1 voted present/not voting
currently selectedHouseH.R. 1256 (113th): Swap Jurisdiction Certainty Act6/12/2013This bill PASSED the House
0 voted YES 0 voted NO 1 voted present/not voting
ActionDateDescription
Introduced3/19/2013
3/19/2013Referred to the Committee on Financial Services, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
3/19/2013Referred to House Financial Services
3/19/2013Referred to House Agriculture
3/19/2013Introduced in House
3/20/2013Committee Consideration and Mark-up Session Held.
Put on a legislative calendar3/20/2013Ordered to be Reported by Voice Vote.
4/11/2013Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
5/07/2013Committee Consideration and Mark-up Session Held.
Put on a legislative calendar5/07/2013Ordered to be Reported (Amended) by the Yeas and Nays: 48 - 11.
6/10/2013Reported (Amended) by the Committee on Financial Services. H. Rept. 113-103, Part I.
6/10/2013Reported by the Committee on Agriculture. H. Rept. 113-103, Part II.
Put on a legislative calendar6/10/2013Placed on the Union Calendar, Calendar No. 72.
6/11/2013Rules Committee Resolution H. Res. 256 Reported to House. Resolution provides for one hour of general debate on H.R. 1960. Resolution also provides for one hour of general debate on H.R. 1256 under a closed rule.
6/12/2013Rule H. Res. 256 passed House.
6/12/2013Considered under the provisions of rule H. Res. 256.
6/12/2013Resolution provides for one hour of general debate on H.R. 1960. Resolution also provides for one hour of general debate on H.R. 1256 under a closed rule.
6/12/2013DEBATE - The House proceeded with one hour of debate on H.R. 1256.
6/12/2013The previous question was ordered pursuant to the rule.
6/12/2013Mr. Maloney, Sean moved to recommit with instructions to Financial Services.
6/12/2013DEBATE - The House proceeded with 10 minutes of debate on the Sean Maloney motion to recommit with instructions. The instructions contained in the motion seek to report the same back to the House forthwith with an amendment to require the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) to rule that foreign entities are not broadly equivalent to U.S. swaps requirements if they: (1) engage in cyber attacks against the U.S. (including U.S. persons and businesses), do not have or enforce laws to deter cyber attacks, or have ever been the subject of a civil or criminal proceeding for cyber attacks; or (2) are in violation of, do not enforce comparable restrictions to, or have ever been the subject of a civil or criminal proceeding for violating Iran Sanctions.
6/12/2013Motion to reconsider laid on the table Agreed to without objection.
6/12/2013
6/12/2013House amendment offered
select this voteVote6/12/2013On Motion to Recommit with Instructions: H R 1256 Swap Jurisdiction Certainty Act
currently selectedHouse Vote on Passage6/12/2013H.R. 1256 (113th): Swap Jurisdiction Certainty Act
6/13/2013Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
NumberSponsorDate OfferedStatus

Total contributions given to John A. Boehner from interest groups that…

4 Organizations Supported and 6 Opposed; See Which Ones

Organizations that took a position on
Swap Jurisdiction Certainty Act: H.R. 1256 (113th): Swap Jurisdiction Certainty Act

4 organizations supported this bill

American Bankers Association
James Ballentine (2013, March 19). ABA Letter to Members of the House Agriculture Committee. Retrieved March 20, 2013, from ABA.
Business Roundtable
John Engler (2013, June 12). BRT Letter Supporting Swaps Jurisdiction Certainty Act. Retrieved June 13, 2013, from BRT.
Securities Industry and Financial Markets Association
Andrew DeSouza (2013, May 7). SIFMA Applauds Committee Passage of Derivatives Legislation. Retrieved June 7, 2013, from SIFMA.
U.S. Chamber of Commerce
R. Bruce Josten (2013, May 6). US Chamber Letter to Chairman Hensarling and Ranking Member Waters. Retrieved May 17, 2013, from US Chamber of Commerce.

6 organizations opposed this bill

AFL-CIO
William Samuel (2013, May 6). AFL CIO Letter to Chairman Hensarling and Ranking Member Waters. Retrieved May 17, 2013, from AFL-CIO.
Americans for Financial Reform
Americans for Financial Reform (2013, March 20). AFP Letter to Representatives. Retrieved March 20, 2013, from Our Financial Security.
Consumer Federation of America
Barbara Roper (2013, May 3). CFA Letter to Chairman Hensarling, Ranking Member Waters and Members of the Committee. Retrieved May 17, 2013, from CFA.
Demos
Joe Hines (2013, June 12). Right Now: Big Banks Are Gutting Dodd-Frank. Retrieved June 13, 2013, from Demos.
Occupy the SEC
Eric Taylor, Joshua Reynolds, Josh Snodgrass & Akshat Tewary & (2013, April 30). RE: Proposed Bills Under Considerati on by the Committee: H.R. 634, H.R. 677, H.R. 742, H.R. 992, H.R. 1003, H.R. 1038, H.R. 1062, and H.R. 1256 . Retrieved June 13, 2013, from Occupy the SEC.
Public Citizen
PC (2013, May 1). Swaps Bills Slated for May 7 HFS Vote. Retrieved May 17, 2013, from Public Citizen.

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View citations of support and opposition

Includes reported contributions to congressional campaigns of John A. Boehner, who didn’t vote, from interest groups invested in the vote according to MapLight, January 1, 2013 – December 31, 2014.
Contributions data source: OpenSecrets.org

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NamePartyState$ From Interest Groups
That Supported
$ From Interest Groups
That Opposed
Vote
John A. BoehnerROH-8$652,681$0Not Voting

Interest Groups that supported this bill

$ Donated
Security brokers & investment companies$438,330
Commercial banks & bank holding companies$200,301
General business associations$10,100
Chambers of commerce$3,950

Interest Groups that opposed this bill

$ Donated
Democratic/Liberal$0
Consumer groups$0
Labor Unions$0
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