Amend the Commodity Exchange Act: Hearings, Ninetieth Congress, First Session, on H.R. 11930 and H.R. 12317 |
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Common terms and phrases
action administrative amend the Commodity amended 7 U.S.C. appeal Attorney believe bill board of trade broker bylaws CALDWELL cease and desist Chairman Chicago Mercantile Exchange Coffee and Sugar committee Commodity Exchange Act Commodity Exchange Authority commodity market CONGRESS THE LIBRARY contract market corn court criminal customers Department of Agriculture desist orders DOLE effect enforcement Engelman Exchange Commission Federal financial requirements firm FOLEY funds futures commission merchant futures contracts futures markets futures trading GATHINGS grain hedging injunctive power interest interstate commerce KLEPPE legislation LIBRARY OF CONGRESS livestock manipulation margin MAYNE MEHREN minimum financial modity operation penalties person position president proposed protect provisions PURCELL question record regulations regulatory RHODES rules Secretary of Agriculture speculation statement statute substantial evidence Sugar Act Sugar Exchange Thank tion transactions United violation Volkart world sugar York Coffee York Cotton Exchange ZWACH
Popular passages
Page 7 - Whenever it shall appear to the Commission that any person has engaged or is about to engage in any act or practice constituting a violation of any provision...
Page 2 - ... of trading in any commodity for future delivery on or subject to the rules of any contract market...
Page 7 - ... shall, in addition to other penalties provided by law, be guilty of a misdemeanor and, upon conviction thereof, be fined not more than $10,000, or imprisoned for not more than one year, or both, together with the costs of prosecution.
Page 35 - ... consisting of the Secretary of Agriculture, the Secretary of Commerce, and the Attorney General...
Page 83 - People will endeavor to forecast the future and to make agreements according to their prophecy. Speculation of this kind by competent men is the self-adjustment of society to the probable. Its value is well known as a means of avoiding or mitigating catastrophes, equalizing prices and providing for periods of want.
Page 83 - It is true that the success of the strong induces imitation by the weak, and that incompetent persons bring themselves to ruin by undertaking to speculate in their turn. But legislatures and courts generally have recognized that the natural evolutions of a complex society are to be touched only with a very cautious hand, and that such coarse attempts at a remedy for the waste incident to every social function as a simple prohibition and laws to stop its being are harmful and vain.
Page 5 - Upon evidence received, the Secretary of Agriculture may require all contract markets to refuse such person all trading privileges thereon for such period as may be specified in the order, and, if such person is registered as futures commission merchant or as floor broker hereunder, may suspend, for a period not to exceed six months, or revoke, the registration of such person.
Page 1 - floor broker" shall mean any person who, in or surrounding any "pit," "ring," "post," or other place provided by a contract market for the meeting of persons similarly engaged, shall...
Page 7 - States shall also have jurisdiction to issue writs of mandamus, or orders affording like relief, commanding any person to comply with the provisions of this Act or any rule, regulation, or order of the Commission thereunder...
Page 7 - ... may be brought in any such district or in the district wherein the defendant is found or is an inhabitant or transacts business, and process in such cases may be served in any other district of which the defendant is an inhabitant or wherever the defendant may be found.