Sponsors (2)
Introduced March 26, 2026 by David Rouzer · Last progress March 26, 2026
The bill strengthens protections, oversight, and consistency for CFTC-held proprietary market data—improving confidentiality and reducing misuse risks—while increasing compliance burdens and potentially restricting access for researchers and slowing time-sensitive information sharing.
Financial institutions and firms that provide proprietary market data will have stronger legal protections and limits on access to their confidential information held by the CFTC, reducing the chance of commercial disclosure or misuse.
Taxpayers and firms are less exposed to risks from improper use or disclosure of sensitive market data because the bill requires limits on access and specific safeguards for CFTC-held proprietary information.
Taxpayers and federal employees gain greater transparency and public input about how proprietary data are handled because the bill requires notice-and-comment rulemaking for those procedures.
Taxpayers and financial firms may face higher compliance costs because the CFTC and recipient agencies must implement the new safeguards and assurance processes, which could increase regulatory fees or require additional funding.
Researchers, journalists, and public oversight actors (broadly affecting taxpayers) could see reduced access to market information, limiting transparency about market activity and hindering independent analysis.
Federal, state, and local agencies involved in investigations or enforcement may experience slower or more complicated information sharing because the bill requires assurances from other governmental entities before sharing proprietary data.
Based on analysis of 2 sections of legislative text.
Requires the CFTC to adopt rules extending confidentiality protections to proprietary information, set safeguards and access limits, and require assurances for government recipients.
Requires the Commodity Futures Trading Commission (CFTC) to adopt, through notice-and-comment rulemaking, rules extending confidentiality protections to proprietary information it obtains that is not already covered. The CFTC must create policies on when it may request proprietary data, how to safeguard information based on sensitivity, limits on staff access, and protections against unlawful use or disclosure, and must set rules and assurance requirements for sharing such information with other government entities. The measure does not appropriate funds or create new criminal penalties; it focuses on regulatory rulemaking to standardize handling and interagency sharing of proprietary data and will change CFTC procedures and obligations for recipients of CFTC information.