US Code

Public Law 119-73 (01/23/2026)

7 U.S.C. § 6b–1

Enforcement authority

(a)

Commodity Futures Trading Commission

Except as provided in subsections (b), (c), and (d), the Commission shall have exclusive authority to enforce the provisions of subtitle A of the Wall Street Transparency and Accountability Act of 2010 with respect to any person.

(b)

Prudential regulators

section 6s(e) of this titleThe prudential regulators shall have exclusive authority to enforce the provisions of with respect to swap dealers or major swap participants for which they are the prudential regulator.

(c)

Referrals

(1)

Prudential regulators

section 6s of this titleIf the prudential regulator for a swap dealer or major swap participant has cause to believe that the swap dealer or major swap participant, or any affiliate or division of the swap dealer or major swap participant, may have engaged in conduct that constitutes a violation of the nonprudential requirements of this chapter (including or rules adopted by the Commission under that section), the prudential regulator may promptly notify the Commission in a written report that includes—
(A)
a request that the Commission initiate an enforcement proceeding under this chapter; and
(B)
an explanation of the facts and circumstances that led to the preparation of the written report.
(2)

Commission

section 6s of this titleIf the Commission has cause to believe that a swap dealer or major swap participant that has a prudential regulator may have engaged in conduct that constitutes a violation of any prudential requirement of or rules adopted by the Commission under that section, the Commission may notify the prudential regulator of the conduct in a written report that includes—
(A)
a request that the prudential regulator initiate an enforcement proceeding under this chapter or any other Federal law (including regulations); and
(B)
an explanation of the concerns of the Commission, and a description of the facts and circumstances, that led to the preparation of the written report.
(d)

Backstop enforcement authority

(1)

Initiation of enforcement proceeding by prudential regulator

If the Commission does not initiate an enforcement proceeding before the end of the 90-day period beginning on the date on which the Commission receives a written report under subsection (c)(1), the prudential regulator may initiate an enforcement proceeding.

(2)

Initiation of enforcement proceeding by Commission

If the prudential regulator does not initiate an enforcement proceeding before the end of the 90-day period beginning on the date on which the prudential regulator receives a written report under subsection (c)(2), the Commission may initiate an enforcement proceeding.

Sept. 21, 1922, ch. 369, § 4b–1Pub. L. 111–203, title VII, § 741(a)124 Stat. 1729(, as added , , .)

Editorial Notes

References in Text

Pub. L. 111–203124 Stat. 1641section 78c–2 of Title 15section 761 of Title 11osection 78c of Title 15Subtitle A of the Wall Street Transparency and Accountability Act of 2010, referred to in subsec. (a), is subtitle A (§§ 711–754) of title VII of , , , which enacted sections 1b, 6b–1, 6r to 6t, 7b–3, 24a, and 26 of this title and subchapter I (§ 8301 et seq.) of chapter 109 and , Commerce and Trade, amended sections 1a, 2, 6 to 6b, 6c, 6d, 6m, 6q, 6s, 7 to 7b, 8 to 9a, 12, 12a, 13, 13–1, 13a–1, 13b, 15, 16, 21, 24, 25, 27 to 27b, 27e, and 27f of this title, , Bankruptcy, sections 4421 and 4422 of Title 12, Banks and Banking, and sections 78f, 78, and 78s of Title 15, enacted provisions set out as notes under sections 1a, 2, 6a, 7a–1, 7a–3, and 9 of this title, and amended provisions set out as a note under . For complete classification of subtitle A to the Code, see Tables.

Statutory Notes and Related Subsidiaries

Effective Date

Pub. L. 111–203section 754 of Pub. L. 111–203section 1a of this titleSection effective on the later of 360 days after , or, to the extent a provision of subtitle A (§§ 711–754) of title VII of requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle A, see , set out as an Effective Date of 2010 Amendment note under .