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 Act ...

, to replace the U.S. Department of Agriculture's

Commodity Exchange Authority The Commodity Exchange Authority was a former regulatory agency of USDA. It was established to administer the Commodity Exchange Act of 1936; it was the predecessor to the Commodity Futures Trading Commission The Commodity Futures Trading Commi ...

, 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, which itself had made extensive changes in the original Grain Futures Act of 1922. (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