Law Commons^™

The Exchange-Trading Requirement Of The Commodity Exchange Act, William L. Stein

Vanderbilt Law Review

The Commodity Exchange Act (CEA) makes it illegal to trade a contract for the purchase or sale of a commodity for future delivery-a"futures contract"-unless the contract is executed on a federally designated exchange. Despite its long history of trouble-free administration and operation, this central premise of futures regulation recently has been attacked as unworkable and undesirable. Some argue that the requirement discourages commercially useful off-exchange transactions. They claim that even if such transactions fall within the letter of the requirement, off-exchange transactions do not implicate the trading restriction's policy concerns. In contrast, others suggest that off-exchange

transactions threaten the safety …

Fraud In Commodity Futures Trading--An Examination Of The Investor's Remedies, Lisa G. Demartini

Vanderbilt Law Review

This Note examines the various avenues of redress available to the defrauded commodity futures investor. Initially, an examination of two remedies expressly provided in the Commodity Exchange Act (CEA)--reparations and arbitration--demonstrates their current inefficiencies and inadequacies. Next, the Note considers the possibility of recovery under the antifraud provision of the Securities Exchange Act and argues that such a cause of action should still be available when the investor can show that the particular discretionary trading account is a security." Finally, a discussion of an implied private right of action for violations of the antifraud provision of the CEA reveals much …

The Commodity Futures Trading Commission Act: Preemption As Public Policy, Philip F. Johnson

Vanderbilt Law Review

On October 23, 1974, President Ford signed into law P.L. 93-463, bearing the breathless title "Commodity Futures Trading Com-mission Act of 1974"' [hereinafter the CFTC Act]. The CFTC Act followed a series of hearings, beginning in the summer of 1973, held first by a subcommittee of the House Committee on Small Business and followed rapidly by the more traditional oversight committees of the Congress-the House Agriculture Committee and the Senate Agriculture and Forestry Committee.' The result was a major over-haul of the Commodity Exchange Act, which had governed the commodity futures markets since 1922. More significantly, however,the Act has become …