CFTC Protection of Information and Data Act of 2026
- Bill Number
- H.R. 9128
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-06-03: Referred to the House Committee on Agriculture.
- Last Updated
- 2026-06-30T14:50:47Z
AI-Generated Summary
Purpose The legislation amends the Commodity Exchange Act of 1936 to update rules on when and how the Commodity Futures Trading Commission (CFTC) may share information it holds, while adding protections to preserve legal privileges during such sharing.
Key Provisions
- Replaces the existing subsection (e) of Section 8 with detailed disclosure authorities, allowing the CFTC to release names, addresses, and trading data of commodity traders when that information has already been made public.
- Permits the CFTC to provide information to congressional committees upon request within their jurisdiction.
- Authorizes sharing with U.S. federal departments and agencies (including Federal Reserve Banks) when acting within their scope, but limits further disclosure except in U.S. legal proceedings.
- Allows sharing with state or local government entities, restricted to use in adjudicatory actions under the Act or state law.
- Permits sharing with foreign futures authorities or foreign government agencies, ministries, or central banks, but only if the CFTC determines the recipient will limit further disclosure to adjudicatory proceedings.
- Adds a new subsection (h) defining "privilege" to include work-product, attorney-client, governmental, and other recognized privileges.
- States that transferring information to or from the CFTC does not waive any privilege, with limited exceptions.
- Redesignates prior subsections (h) and (i) as (i) and (j).
Significant Changes to Existing Law The bill expands and clarifies the CFTC’s authority to share information with domestic and foreign entities compared to the prior, less detailed version of subsection (e). It introduces explicit non-waiver rules for privileged information, which were not previously addressed in this section. Conditions on recipient disclosure are made more uniform across federal, state, and foreign recipients.
Potential Impacts
- Government agencies: Federal and state agencies gain clearer access to CFTC data for enforcement or oversight, subject to use restrictions; foreign regulators may receive information more readily for cross-border cases.
- Citizens and market participants: Traders’ data remains protected except when already public or required by Congress, with added safeguards against loss of legal protections.
- International relations: Facilitates cooperation with foreign authorities in commodity market oversight while requiring assurances against unauthorized further release.
Main Stakeholders Affected
- The CFTC and its staff.
- Commodity traders and market participants whose data is held by the CFTC.
- Congressional committees.
- Federal, state, and local government agencies.
- Foreign futures authorities and foreign government entities.
Notable Legal, Constitutional, or Political Implications The non-waiver provisions for privileges reinforce existing legal protections during information sharing, reducing risk of compelled disclosure in court. The bill maintains Congress’s access rights and does not alter the CFTC’s obligation to comply with U.S. court orders. No direct changes to constitutional authorities or citizen rights are introduced beyond the updated disclosure framework.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Rep. Messmer, Mark B. [R-IN-8]
Cosponsors (1)
Rep. Budzinski, Nikki [D-IL-13]
Recent Actions
- 2026-06-03: Referred to the House Committee on Agriculture.
- 2026-06-03: Introduced in House
- 2026-06-03: Introduced in House
Bill Versions
- CFTC Protection of Information and Data Act of 2026 — issued 2026-06-03 — PDF (7 pages)