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Commentary by Steven Lofchie

The House of Representatives passed the Commodity End-User Relief Act. Approved by a 239 to 182 vote, the Act would make several reforms and reauthorize the CFTC with an appropriation of $250,000,000 for fiscal years 2017 through 2021.

The House of Representatives voted to pass H.R. 4413 , the Consumer Protection and End User Relief Act, which reauthorizes appropriations to the CFTC through 2018 and directs the CFTC to issue rules governing the cross-border regulation of derivatives transactions. The bill also: provides materially increased insolvency benefits for customers of failed FCMs, albeit by effectively subordinating all non-customer claims of an FCM to customer claims (section 102); includes new cost-benefit analyses and procedural requirements for the CFTC (section 203); requires the CFTC to submit, every five

The House Committee on Agriculture introduced bipartisan legislation titled the "Customer Protection and End User Relief Act" ( H.R. 4413 ) to reauthorize and improve the operations of the CFTC and to address concerns relating to market certainty and customer protection. If passed, the Act would, among other things, amend the CEA to allow many end users who are legitimate "commercial market participants" to avoid being treated as financial entities. It would provide relief for end users who use contracts that result in the actual physical delivery of a commodity that has an embedded option to