7 U.S.C. § 6i | Reports of deals equal to or in excess of trading limits; books and records; cash and controlled transactions

It shall be unlawful for any person to make any contract for the purchase or sale of any commodity for future delivery on or subject to the rules of any contract market or derivatives transaction execution facility, or any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract—

(1)

if such person shall directly or indirectly make such contracts with respect to any commodity or any future of such commodity during any one day in an amount equal to or in excess of such amount as shall be fixed from time to time by the Commission, and

(2)

if such person shall directly or indirectly have or obtain a long or short position in any commodity or any future of such commodity equal to or in excess of such amount as shall be fixed from time to time by the Commission,

unless such person files or causes to be filed with the properly designated officer of the Commission such reports regarding any transactions or positions described in clauses (1) and (2) hereof as the Commission may by rule or regulation require and unless, in accordance with rules and regulations of the Commission, such person shall keep books and records of all such transactions and positions and transactions and positions in any such commodity traded on or subject to the rules of any other board of trade or electronic trading facility, and of cash or spot transactions in, and inventories and purchase and sale commitments of such commodity. Such books and records shall show complete details concerning all such transactions, positions, inventories, and commitments, including the names and addresses of all persons having any interest therein, and shall be open at all times to inspection by any representative of the Commission or the Department of Justice. For the purposes of this section, the futures and cash or spot transactions and positions of any person shall include such transactions and positions of any persons directly or indirectly controlled by such person.

Sept. 21, 1922, ch. 369, § 4i June 15, 1936, ch. 545, § 5 49 Stat. 1496 Pub. L. 90–258, § 9Feb. 19, 196882 Stat. 28 Pub. L. 93–463, title I, § 103(a)Oct. 23, 197488 Stat. 1392 Pub. L. 97–444, title II, § 211Jan. 11, 198396 Stat. 2303 Pub. L. 106–554, § 1(a)(5) [title I, § 123(a)(9)]Dec. 21, 2000114 Stat. 2763 Pub. L. 110–234, title XIII, § 13202(b)May 22, 2008122 Stat. 1439 Pub. L. 110–246, § 4(a)June 18, 2008122 Stat. 1664(, as added , ; amended , , ; , (f), , ; , , ; , , , 2763A–407; , , ; , title XIII, § 13202(b), , , 2201.)

Editorial Notes

Codification

Pub. L. 110–234 Pub. L. 110–246 Pub. L. 110–234 section 4(a) of Pub. L. 110–246 and made identical amendments to this section. The amendments by were repealed by .

Amendments

Pub. L. 110–246, § 13202(b)2008—, in introductory provisions, inserted “, or any significant price discovery contract traded or executed on an electronic trading facility or any agreement, contract, or transaction that is treated by a derivatives clearing organization, whether registered or not registered, as fungible with a significant price discovery contract” after “derivatives transaction execution facility” and, in concluding provisions, inserted “or electronic trading facility” after “board of trade”.

Pub. L. 106–5542000— inserted “or derivatives transaction execution facility” after “contract market” in introductory provisions.

Pub. L. 97–4441983— amended section generally by substantially restating provisions and inserting requirement that persons whose transactions and positions in any cash commodity or commodity future are equal to or in excess of amounts fixed by the Commission, must keep books and records of such transactions and positions as well as books and records of any such commodity traded on or subject to rules of any other board of trade, whether or not such person is required to file reports with the Commission concerning such transactions and positions.

Pub. L. 93–4631974— substituted “Commission” for “Secretary of Agriculture” and “United States Department of Agriculture”.

Pub. L. 90–2581968— required recordkeeping of positions and of cash or spot transactions in commodities entered into, and inventories and purchase and sale commitments of commodities held, in any month in which reports are required to be kept, including details concerning positions, inventories, and commitments, and included controlled transactions and positions in the futures and cash or spot transactions and positions of any person.

Statutory Notes and Related Subsidiaries

Effective Date of 2008 Amendment

Pub. L. 110–234 Pub. L. 110–246May 22, 2008Pub. L. 110–234 section 4 of Pub. L. 110–246 section 8701 of this titleAmendment of this section and repeal of by effective , the date of enactment of , except as otherwise provided, see , set out as an Effective Date note under .

section 13202(b) of Pub. L. 110–246June 18, 2008section 13204(a) of Pub. L. 110–246 section 2 of this titleAmendment by effective , see , set out as a note under .

Effective Date of 1983 Amendment

Pub. L. 97–444Jan. 11, 1983section 239 of Pub. L. 97–444 section 2 of this titleAmendment by effective , see , set out as a note under .

Effective Date of 1974 Amendment

Pub. L. 93–463 section 418 of Pub. L. 93–463 section 2 of this titleFor effective date of amendment by , see , set out as a note under .

Effective Date of 1968 Amendment

Pub. L. 90–258Feb. 19, 1968section 28 of Pub. L. 90–258 section 2 of this titleAmendment by effective 120 days after , see , set out as a note under .

Effective Date

June 15, 1936section 1 of this titleFor effective date of section, see section 13 of act , set out as an Effective Date of 1936 Amendment note under .