Pub. L. 107-56, tit. I, subtit. A, sec. 321

FINANCIAL INSTITUTIONS SPECIFIED IN SUBCHAPTER 11 OFCHAPTER 53 OF TITLE 31, UNITED STATES CODE.

EnactedYear: 2001Length: 148 wordsOfficial source
SEC. 321. FINANCIAL INSTITUTIONS SPECIFIED IN SUBCHAPTER 11 OFCHAPTER 53 OF TITLE 31, UNITED STATES CODE. (a) Credit Unions.—Subparagraph (E) of section 5312(2) of title 31, United States Code, is amended to read as follows: “(E) any credit union;”. (b) Futures Commission Merchant; Commodity Trading Advisor; Commodity Pool Operator.—Section 5312 of title 31,United States Code, is amended by adding at the end the following new subsection: “(c) Additional Definitions.—For purposes of this subchapter, the following definitions shall apply: “(1) Certain institutions included in definition.—The term ‘financial institution’ (as defined in subsection (a)) includes the following: “(A) Any futures commission merchant, commodity trading advisor, or commodity pool operator registered, or required to register, under the Commodity Exchange Act.”. (c) CFTC included.—For purposes of this Act and any amendment made by this Act to any other provision of law, the term “Federal functional regulator” includes the Commodity Futures Trading Commission.