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7 U.S.C. § 7b — Suspension or revocation of designation as registered entity

submitted 104 years ago by ch. 369 to r/title-7-AGRICULTURE · 70 words · no verdicts yet

in plain englishAI-generated · not legal advice

If a registered entity breaks CFTC rules, the Commission can suspend it for up to 180 days or revoke its registration entirely. This follows the procedures in section 8(b). A court can review the Commission's decision.

If a registered entity fails to follow any part of this chapter, or any Commission regulation or order made under it, that failure is grounds for the Commission to suspend the entity for up to 180 days, or to revoke its designation as a registered entity altogether. The Commission must follow the procedures set out in section 8(b) of this title, and its decision is subject to the judicial review that section describes.
the actual law source: uscode.house.gov ↗public domain

The failure of a registered entity to comply with any provision of this chapter, or any regulation or order of the Commission under this chapter, shall be cause for the suspension of the registered entity for a period not to exceed 180 days, or revocation of designation as a registered entity, in accordance with the procedures and subject to the judicial review provided in section 8(b) of this title.

Source credit: (Sept. 21, 1922, ch. 369, § 5e, formerly § 5b, as added June 15, 1936, ch. 545, § 7, 49 Stat. 1498; amended Pub. L. 90–258, § 13, Feb. 19, 1968, 82 Stat. 30; Pub. L. 93–463, title I, § 103(a), (b), Oct. 23, 1974, 88 Stat. 1392; Pub. L. 102–546, title II, § 209(b)(3), Oct. 28, 1992, 106 Stat. 3607; renumbered § 5e and amended Pub. L. 106–554, § 1(a)(5) [title I, §§ 110(1), 115], Dec. 21, 2000, 114 Stat. 2763, 2763A–384, 2763A–402; Pub. L. 110–234, title XIII, § 13203(l), May 22, 2008, 122 Stat. 1441; Pub. L. 110–246, § 4(a), title XIII, § 13203(l), June 18, 2008, 122 Stat. 1664, 2203; Pub. L. 111–203, title VII, § 749(d), July 21, 2010, 124 Stat. 1747.)

history & why it existsrecord from the source credit
  • 1922Enacted · Act of Sept. 21, 1922, ch. 369 · 49 Stat. 1498
  • 1968Amended · Pub. L. 90-258 · 82 Stat. 30
  • 1974Amended · Pub. L. 93-463 · 88 Stat. 1392
  • 1992Amended · Pub. L. 102-546 · 106 Stat. 3607
  • 2000Amended · Pub. L. 106-554 · 114 Stat. 2763, 2763
  • 2008Amended · Pub. L. 110-234 · 122 Stat. 1441
  • 2008Amended · Pub. L. 110-246 · 122 Stat. 1664, 2203
  • 2010Amended · Pub. L. 111-203 · 124 Stat. 1747

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

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