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7 U.S.C. § 19Consideration of costs and benefits and antitrust laws

submitted 104 years ago by Pub. L. 93-463 to r/title-7-AGRICULTURE · 240 words · no verdicts yet

in plain englishAI-generated · not legal advice

Before making a new rule or order, the Commission must weigh its costs and benefits. It weighs effects on market protection, efficiency, competition, price discovery, and risk management. It must also favor the least anticompetitive option that meets the law's goals.

(a)(1) Before the Commission issues a regulation under this chapter, or issues most orders, it must consider the costs and benefits of that action. (2) The Commission must evaluate those costs and benefits in light of: (A) protecting market participants and the public; (B) the efficiency, competitiveness, and financial integrity of futures markets; (C) price discovery; (D) sound risk management practices; and (E) other public interest considerations. (3) This cost-benefit requirement does not apply to: (A) an order that initiates, is part of, or results from the Commission's adjudicatory or investigative process; (B) an emergency action; or (C) a finding of fact about compliance with a Commission requirement. (b) The Commission must also take into account the public interest that the antitrust laws protect, and must try to use the least anticompetitive means of achieving this chapter's objectives, as well as its policies and purposes. This applies when the Commission issues any order, adopts any rule or regulation — including any exemption under section 6(c) or 6c(b) of this title — or requires or approves any bylaw, rule, or regulation of a contract market or registered futures association established under section 21 of this title.
the actual law source: uscode.house.gov ↗public domain
(a) Costs and benefits
(1) In general

Before promulgating a regulation under this chapter or issuing an order (except as provided in paragraph (3)), the Commission shall consider the costs and benefits of the action of the Commission.

(2) Considerations

The costs and benefits of the proposed Commission action shall be evaluated in light of—

(A)

considerations of protection of market participants and the public;

(B)

considerations of the efficiency, competitiveness, and financial integrity of futures markets;

(C)

considerations of price discovery;

(D)

considerations of sound risk management practices; and

(E)

other public interest considerations.

(3) Applicability

This subsection does not apply to the following actions of the Commission:

(A)

An order that initiates, is part of, or is the result of an adjudicatory or investigative process of the Commission.

(B)

An emergency action.

(C)

A finding of fact regarding compliance with a requirement of the Commission.

(b) Antitrust laws

The Commission shall take into consideration the public interest to be protected by the antitrust laws and endeavor to take the least anticompetitive means of achieving the objectives of this chapter, as well as the policies and purposes of this chapter, in issuing any order or adopting any Commission rule or regulation (including any exemption under section 6(c) or 6c(b) of this title), or in requiring or approving any bylaw, rule, or regulation of a contract market or registered futures association established pursuant to section 21 of this title.

Source credit: (Sept. 21, 1922, ch. 369, § 15, as added Pub. L. 93–463, title I, § 107, Oct. 23, 1974, 88 Stat. 1395; amended Pub. L. 102–546, title V, § 502(b), Oct. 28, 1992, 106 Stat. 3631; Pub. L. 106–554, § 1(a)(5) [title I, § 119], Dec. 21, 2000, 114 Stat. 2763, 2763A–403.)

history & why it existsrecord from the source credit
  • 1922Enacted · Pub. L. 93-463 · 88 Stat. 1395
  • 1992Amended · Pub. L. 102-546 · 106 Stat. 3631
  • 2000Amended · Pub. L. 106-554 · 114 Stat. 2763, 2763

A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-463 on 1922-09-21.

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