(1) Except as provided in paragraph (2), not later than six months after the effective date of rules promulgated by the Federal Trade Commission under section 6102(a) of title 15, the Commission shall promulgate, or require each registered futures association to promulgate, rules substantially similar to such rules to prohibit deceptive and other abusive telemarketing acts or practices by any person registered or exempt from registration under this chapter in connection with such person’s business as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, leverage transaction merchant, floor broker, or floor trader, or a person associated with any such person.
(2) The Commission is not required to promulgate rules under paragraph (1) if it determines that—(A) rules adopted by the Commission under this chapter provide protection from deceptive and abusive telemarketing by persons described under paragraph (1) substantially similar to that provided by rules promulgated by the Federal Trade Commission under section 6102(a) of title 15; or
(B) such a rule promulgated by the Commission is not necessary or appropriate in the public interest, or for the protection of customers in the futures and options markets, or would be inconsistent with the maintenance of fair and orderly markets.
If the Commission determines that an exception described in subparagraph (A) or (B) applies, the Commission shall publish in the Federal Register its determination with the reasons for it.
Structure US Code
CHAPTER 1— COMMODITY EXCHANGES
§ 6. Regulation of futures trading and foreign transactions
§ 6b. Contracts designed to defraud or mislead
§ 6e. Dealings by unregistered floor trader or broker prohibited
§ 6f. Registration and financial requirements; risk assessment
§ 6g. Reporting and recordkeeping
§ 6h. False self-representation as registered entity member prohibited
§ 6l. Commodity trading advisors and commodity pool operators; Congressional finding
§ 6p. Standards and examinations
§ 6q. Special procedures to encourage and facilitate bona fide hedging by agricultural producers
§ 6r. Reporting and recordkeeping for uncleared swaps
§ 6s. Registration and regulation of swap dealers and major swap participants
§ 6t. Large swap trader reporting
§ 7. Designation of boards of trade as contract markets
§ 7a–1. Derivatives clearing organizations
§ 7a–2. Common provisions applicable to registered entities
§ 7b. Suspension or revocation of designation as registered entity
§ 7b–1. Designation of securities exchanges and associations as contract markets
§ 7b–3. Swap execution facilities
§ 9. Prohibition regarding manipulation and false information
§ 9a. Assessment of money penalties
§ 9b. Rules prohibiting deceptive and other abusive telemarketing acts or practices
§ 9c. Notice of investigations and enforcement actions
§ 12a. Registration of commodity dealers and associated persons; regulation of registered entities
§ 12b. Trading ban violations; prohibition
§ 12d. Commission action for noncompliance with export sales reporting requirements
§ 12e. Repealed. , , , 2763A–410
§ 13. Violations generally; punishment; costs of prosecution
§ 13a–1. Enjoining or restraining violations
§ 13a–2. Jurisdiction of States
§ 13c. Responsibility as principal; minor violations
§ 15b. Cotton futures contracts
§ 16a. Service fees and National Futures Association study
§ 17a. Separability of 1936 amendment
§ 17b. Separability of 1968 amendment
§ 18. Complaints against registered persons
§ 19. Consideration of costs and benefits and antitrust laws
§ 21. Registered futures associations
§ 22. Research and information programs; reports to Congress
§ 23. Standardized contracts for certain commodities
§ 24. Customer property with respect to commodity broker debtors; definitions
§ 25. Private rights of action
§ 26. Commodity whistleblower incentives and protection
§ 27a. Exclusion of identified banking product
§ 27c. Exclusion of certain other identified banking products