Grain Futures Act

Grain Futures Act

The Grain Futures Act (ch. 369, USStat|42|998, USC|7|1), 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 organization to the Commodity Futures Trading Commission.

The bill that became the Grain Futures Act was introduced in the United States Congress two weeks after the US Supreme Court declared the Futures Trading Act of 1921 unconstitutional in Hill v. Wallace 259 U.S. 44 (1922) [ Markham, Jerry The history of Commodity futures Trading and its Regulation, 13 ] . The Grain Futures Act was held to be constitutional by the US Supreme Court in Board of Trade of City of Chicago v. Olsen 262 US 1 (1923).

In 1936 it was revised into the Commodity Exchange Act (CEA). The act was further superseded in 1974 by establishing the Commodity Futures Trading Commission. In 1982 the Commodity Futures Trading Commission created the National Futures Association (NFA).

ee also

*Futures exchange

References


Wikimedia Foundation. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • Grain Futures Act of 1922 — A federal statute passed in 1922 by the U.S Government that established the restriction that all grain futures need to be traded on regulated futures exchanges. The act also required exchanges to make more information public and limit the amount… …   Investment dictionary

  • Futures contract — Financial markets Public market Exchange Securities Bond market Fixed income Corporate bond Government bond Municipal bond …   Wikipedia

  • Commodity Futures Trading Commission — U.S. Commodity Futures Trading Commission Official seal Agency overview Formed April 15, 1975 Preceding agency Commodity Exchange Authority …   Wikipedia

  • Commodity Exchange Act — (ch. 545, 49 Stat. 1491, enacted June 15, 1936) is a federal act passed in 1936 by the U.S. Government (replacing the Grain Futures Act of 1922). The Act provides federal regulation of all commodities and futures trading activities and… …   Wikipedia

  • Commodity Futures Trading Commission Act of 1974 — Commodity Futures Trading Commission (CFTC) Act of 1974 (P.L. 93 463) created the Commodity Futures Trading Commission, to replace the U.S. Department of Agriculture’s Commodity Exchange Authority, as the independent federal agency responsible… …   Wikipedia

  • National Futures Association — The National Futures Association (NFA) is an independent self regulatory organization and watchdog of the commodities and futures industry in the United States. The NFA oversees and protects investors from fraudulent commodities and futures… …   Wikipedia

  • Commodity Exchange Act - CEA — An act passed in 1936 by the U.S. Government that provides federal regulation of all futures trading activities. This act replaced the Grain Futures Act of 1922. The Commodity Futures Trading Commission (CFTC) was created as a result of the CEA… …   Investment dictionary

  • Grain elevator — Saskatchewan Wheat Pool No. 7, Thunder Bay, Ontario. A grain elevator is a tower containing a bucket elevator, which scoops up, elevates, and then uses gravity to deposit grain in a silo or other storage facility. In most …   Wikipedia

  • grain — Wheat, corn, oats, barley, rye, flax, and sorghum. Trusler v Crooks, 269 US 475, 479, 70 L Ed 365, 366, 46 S Ct 165. (Federal Futures Trading Act.) More broadly, the seed of any cereal plant …   Ballentine's law dictionary

  • Future Trading Act — The Future Trading Act of 1921 (ch. 86, USStat|42|187) was a United States Act of Congress intended to institute regulation of grain futures contracts and, particularly, the exchanges on which they were traded. It was the second federal statute… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”