Commodity Futures Trading Commission (CFTC) Act of 1974 (P.L. 93-463) created the

Commodity Futures Trading Commission The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options. The Commodity Exchange Ac ...

, to replace the

U.S. Department of Agriculture The United States Department of Agriculture (USDA) is the federal executive department responsible for developing and executing federal laws related to farming, forestry, rural economic development, and food. It aims to meet the needs of com ...

Commodity Exchange Authority The Commodity Exchange Authority was a former regulatory agency of USDA The United States Department of Agriculture (USDA) is the federal executive department responsible for developing and executing federal laws related to farming, forestry, ...

, as the independent federal agency responsible for regulating the futures trading industry. The Act made extensive changes in the basic authority of

Commodity Exchange Act of 1936 Commodity Exchange Act (ch. 545, , enacted June 15, 1936) is a federal act enacted in 1936 by the U.S. Government, with some of its provisions amending the Grain Futures Act of 1922. The Act provides federal regulation of all commodities and fut ...

, which itself had made extensive changes in the original

Grain Futures Act of 1922 The Grain Futures Act (ch. 369, , ) is a United States federal law enacted September 21, 1922 involving the regulation of trading in certain commodity futures, and causing the establishment of the Grain Futures Administration, a predecessor organi ...

. (7 U.S.C. 1 et seq.). The H.R. 13113 legislation was passed by the 93rd U.S. Congressional session and signed into law by the 38th President of the United States Gerald Ford on October 23, 1974.

References

United States federal agriculture legislation United States federal commodity and futures legislation 1974 in law 93rd United States Congress {{US-fed-statute-stub