§ 19. — Consideration of costs and benefits and antitrust laws.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC19]
TITLE 7--AGRICULTURE
CHAPTER 1--COMMODITY EXCHANGES
Sec. 19. Consideration of costs and benefits and antitrust laws
(a) Costs and benefits
(1) In general
Before promulgating a regulation under this chapter or issuing
an order (except as provided in paragraph (3)), the Commission shall
consider the costs and benefits of the action of the Commission.
(2) Considerations
The costs and benefits of the proposed Commission action shall
be evaluated in light of--
(A) considerations of protection of market participants and
the public;
(B) considerations of the efficiency, competitiveness, and
financial integrity of futures markets;
(C) considerations of price discovery;
(D) considerations of sound risk management practices; and
(E) other public interest considerations.
(3) Applicability
This subsection does not apply to the following actions of the
Commission:
(A) An order that initiates, is part of, or is the result of
an adjudicatory or investigative process of the Commission.
(B) An emergency action.
(C) A finding of fact regarding compliance with a
requirement of the Commission.
(b) Antitrust laws
The Commission shall take into consideration the public interest to
be protected by the antitrust laws and endeavor to take the least
anticompetitive means of achieving the objectives of this chapter, as
well as the policies and purposes of this chapter, in issuing any order
or adopting any Commission rule or regulation (including any exemption
under section 6(c) or 6c(b) of this title), or in requiring or approving
any bylaw, rule, or regulation of a contract market or registered
futures association established pursuant to section 21 of this title.
(Sept. 21, 1922, ch. 369, Sec. 15, as added Pub. L. 93-463, title I,
Sec. 107, Oct. 23, 1974, 88 Stat. 1395; amended Pub. L. 102-546, title
V, Sec. 502(b), Oct. 28, 1992, 106 Stat. 3631; Pub. L. 106-554,
Sec. 1(a)(5) [title I, Sec. 119], Dec. 21, 2000, 114 Stat. 2763, 2763A-
403.)
References in Text
The antitrust laws, referred to in subsec. (b), are classified
generally to chapter 1 (Sec. 1 et seq.) of Title 15, Commerce and Trade.
Amendments
2000--Pub. L. 106-554 inserted section catchline, added subsec. (a),
designated existing provisions as subsec. (b), and inserted subsec. (b)
heading.
1992--Pub. L. 102-546 substituted ``regulation (including any
exemption under section 6(c) or 6c(b) of this title)'' for
``regulation''.
Effective Date
For effective date of section, see section 418 of Pub. L. 93-463,
set out as an Effective Date of 1974 Amendment note under section 2 of
this title.
