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7 U.S.C. § 6h — False self-representation as registered entity member prohibited

submitted 104 years ago by ch. 369 to r/title-7-AGRICULTURE · 103 words · no verdicts yet

in plain englishAI-generated · not legal advice

It is illegal to falsely claim to be a member of a registered entity, a registrant under this law, or their agent, while soliciting or handling commodity orders. It is also illegal to falsely claim such an order was executed through a registered entity member.

This section makes it illegal to lie about your credentials when handling commodity trades. You can't falsely claim to be a member of a registered entity (like an exchange), or the representative or agent of a member, while soliciting or handling an order or contract to buy or sell a commodity — whether that's an interstate trade or a future delivery trade. You also can't falsely claim to be a registrant under this law, or the representative or agent of a registrant, while doing the same thing. And you can't falsely claim that an order or contract you're handling was executed on an exchange, or by or through a member of a registered entity, when that isn't true.
the actual law source: uscode.house.gov ↗public domain

It shall be unlawful for any person falsely to represent such person to be a member of a registered entity or the representative or agent of such member, or to be a registrant under this chapter or the representative or agent of any registrant, in soliciting or handling any order or contract for the purchase or sale of any commodity in interstate commerce or for future delivery, or falsely to represent in connection with the handling of any such order or contract that the same is to be or has been executed on, or by or through a member of, any registered entity.

Source credit: (Sept. 21, 1922, ch. 369, § 4h, as added June 15, 1936, ch. 545, § 5, 49 Stat. 1496; amended Pub. L. 97–444, title II, § 210, Jan. 11, 1983, 96 Stat. 2302; Pub. L. 106–554, § 1(a)(5) [title I, § 123(a)(8)], Dec. 21, 2000, 114 Stat. 2763, 2763A–407.)

history & why it existsrecord from the source credit
  • 1922Enacted · Act of Sept. 21, 1922, ch. 369 · 49 Stat. 1496
  • 1983Amended · Pub. L. 97-444 · 96 Stat. 2302
  • 2000Amended · Pub. L. 106-554 · 114 Stat. 2763, 2763

A history note hasn’t been published yet. The record shows enactment by ch. 369 on 1922-09-21.

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