,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #iabh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #c1 #bjbf,mr4   
,messm] 7= himself & ,ms4 ,budz9ski7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,agriculture  ,a ,,bill
  ,to am5d ! ,commodity ,ex*ange ,act ( 
#aicf = ! protection ( c]ta9 in=mation1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,,cftc ,protection 
( ,in=mation & ,data ,act ( #bjbf4  #b4 
,disclosure au?orities & privilege      
ret5tion ,section #h ( ! ,commodity     
,ex*ange ,act 7#g ,u4,s4,c4 #ab7 is     
am5d$--  7#a7 by /rik+ subsection 7e7 & 
ins]t+ ! foll[+3  7e7 ,disclosure       
au?orities  7#a7 ,9 g5]al  7,a7         
,previ\sly disclos$ ,! ,commission may  
disclose & make public1 :]e su*         
in=mation has previ\sly be5 disclos$    
publicly 9 accordance ) ! provisions (  
?is section1 ! names & addresses ( all  
trad]s on ! bo>ds ( trade on ! commodity
 m>kets ) respect to :om ! ,commission  
has in=mation1 & any o!r in=mation 9 !  

possession ( ! ,commission relat+ to !  
am\nt ( commodities pur*as$ or sold by  
ea* su* trad]4  7,b7 ,congressional     
access ,^u ! reque/ ( any committee (   
ei!r ,h\se ( ,congress1 act+ )9 ! scope 
( its jurisdiction1 ! ,commission %all  
furni% to ! committee ! names &         
addresses ( all trad]s on ! bo>ds (     
trade ) respect to :om ! ,commission has
 in=mation1 & any o!r in=mation 9 !     
possession ( ! ,commission relat+ to !  
am\nt ( any commodity pur*as$ or sold by
 ea* su* trad]4  7#b7 ,dome/ic          
gov]nm5tal entities  7,a7 ,9 g5]al ,^u !
 reque/ ( any dep>tm5t or ag5cy ( !     
,gov]nm5t ( ! ,unit$ ,/ates1 act+ )9 !  
scope ( its jurisdiction1 ! ,commission 
may furni% to ! dep>tm5t or ag5cy any   
in=mation 9 ! possession ( ! ,commission
 obta9$ 9 connection ) ! adm9i/ration ( 
?is ,act4  7,b7 ,conditions ,any        
in=mation furni%$ "u ?is p>agraph to any
 ,f$]al dep>tm5t or ag5cy %all n be     
disclos$ by ! dep>tm5t or ag5cy except 9
 any action or proce$+ "u ! laws ( !    

,unit$ ,/ates to :i* ! dep>tm5t or      
ag5cy1 ! ,commission1 or ! ,unit$ ,/ates
 is a p>ty4  7,c7 ,f$]al res]ve banks ,9
 ?is p>agraph1 ! t]m gov]nm5tal entity  
includes ! ,f$]al ,res]ve ,banks :5     
p]=m+ functions designat$ to ! bank by !
 ,bo>d4  7#c7 ,/ate gov]nm5tal entities 
7,a7 ,9 g5]al ,^u ! reque/ ( any        
dep>tm5t or ag5cy ( any ,/ate or any    
political subdivision !re(1 act+ )9 !   
scope ( its jurisdiction1 ! ,commission 
may furni% to ! dep>tm5t1 ag5cy1 or     
political subdivision any in=mation 9 ! 
possession ( ! ,commission obta9$ 9     
connection ) ! adm9i/ration ( ?is ,act4 
7,b7 ,conditions ,any in=mation furni%$ 
to any dep>tm5t or ag5cy ( any ,/ate or 
political subdivision !re( %all n be    
disclos$ by ! dep>tm5t or ag5cy except 9
 connection ) an adjudicatory action or 
proce$+ "u ?is ,act or ! laws ( ! ,/ate 
or political subdivision to :i* ! ,/ate1
 political subdivision1 dep>tm5t1 or    
ag5cy is a p>ty4  7#d7 ,=eign gov]nm5tal
 entities  7,a7 ,9 g5]al ,^u ! reque/ ( 

any =eign futures au?ority1 or any      
dep>tm5t1 c5tral bank1 m9i/ry1 or ag5cy 
( any =eign gov]nm5t or any political   
subdivision !re(1 act+ )9 ! scope ( its 
jurisdiction1 ! ,commission may furni%  
to ! =eign futures au?ority1 dep>tm5t1  
c5tral bank1 m9i/ry1 ag5cy ( any =eign  
gov]nm5t1 or any political subdivision  
!re(1 any in=mation 9 ! possession ( !  
,commission obta9$ 9 connection ) !     
adm9i/ration ( ?is ,act4  7,b7          
,conditions ,! ,commission %all n furni%
 any in=mation to a =eign futures       
au?ority or to a dep>tm5t1 c5tral bank1 
m9i/ry1 or ag5cy ( a =eign gov]nm5t or  
political subdivision !re(1 unless !    
,commission is satisfi$ t ! in=mation w 
n be disclos$ by ! =eign futures        
au?ority1 dep>tm5t1 c5tral bank1 m9i/ry1
 or ag5cy ( any =eign gov]nm5t or any   
political subdivision !re(1 except 9    
connection ) an adjudicatory action or  
proce$+ "u ! laws ( ! =eign gov]nm5t or 
political subdivision to :i* ! =eign    
gov]nm5t1 political subdivision1        

dep>tm5t1 ag5cy1 c5tral bank1 m9i/ry1 or
 =eign futures au?ority is a p>ty4  2   
7#b7 by r$esignat+ subsections 7h7 & 7i7
 z subsections 7i7 & 7j71 respectively2 
&  7#c7 by ins]t+ aft] subsection 7g7 ! 
foll[+3  7h7 ,%>+ privileg$ in=mation ) 
o!r au?orities  7#a7 ,privilege         
def9ition ,! t]m privilege includes any 
applicable "w-product privilege1        
attorney-cli5t privilege1 gov]nm5tal    
privilege1 or o!r privilege recogniz$ "u
 ,f$]al1 ,/ate1 or =eign law4  7#b7     
,privileg$ in=mation provid$ by !       
,commission ,! ,commission %all n be    
consid]$ to h waiv$ any privilege by    
transf]r+ in=mation to or p]mitt+ t     
in=mation to be us$ 9 accordance )      
section #h;a7#f7 or p>agraphs 7#b71     
7#c71 & 7#d7 ( subsection 7e7 ( ?is     
section4  7#c7 ,nondisclosure (         
privileg$ in=mation provid$ to !        
,commission ,! ,commission %all n be    
compell$ to disclose privileg$ in=mation
 obta9$ f any =eign futures au?ority if 
! au?ority has 9 good fai? det]m9$ &    

repres5t$ to ! ,commission t ! in=mation
 is privileg$1 except z provid$ = 9     
subsection 7a77#a74  7#d7 ,nonwaiv] (   
privileg$ in=mation provid$ to !        
,commission  7,a7 ,9 g5]al ,! entities  
li/$ 9 p>agraphs 7#b71 7#c71 & 7#d7 (   
subsection 7e7 ( ?is section & section  
#h;a7#f7 %all n be consid]$ to h waiv$  
any privilege by transf]r+ in=mation to 
or p]mitt+ in=mation to be us$ by !     
,commission4  7,b7 ,exception           
,subp>agraph 7,a7 %all n apply to an    
entity li/$ 9 section #h;a7#f7 ) respect
 to in=mation obta9$ by ! ,commission 9 
an inve/igation relat+ to or 9 any      
action aga9/ ! entity4  7#e7 ,rule (    
con/ruction ,no?+ 9 ?is subsection %all 
au?orize ! ,commission to )hold         
in=mation1 privileg$ or o!rwise1 f      
,congress or prev5t ! ,commission f     
comply+ ) an ord] ( a c\rt ( ! ,unit$   
,/ates 9 an action comm5c$ by ! ,unit$  
,/ates or ! ,commission4  4