Sponsors (2)
The bill improves protections, transparency, and predictability for proprietary data handled by the CFTC but imposes new compliance costs and could slow or restrict interagency data sharing and regulatory access needed for enforcement and market monitoring.
Financial firms and CFTC staff get clearer, standardized rules (including notice-and-comment procedures) for handling sensitive proprietary data, reducing arbitrary disclosures and increasing transparency and predictability.
When the CFTC shares proprietary information with other government entities, those entities must provide comparable safeguards, better protecting firms' confidential information during interagency transfers.
Standardized procedures and formal rulemaking increase public input and accountability in how the CFTC treats proprietary information, giving stakeholders a clearer voice in safeguards and practices.
Requiring comparable-assurance guarantees from other agencies could slow interagency information sharing, delaying enforcement actions or market-stability responses.
If safeguards are written too restrictively, they could impede legitimate regulatory oversight, research access, and effective market monitoring by limiting needed data availability.
New compliance and contractual requirements for protecting proprietary data will raise administrative costs for firms that provide such data to the CFTC.
Based on analysis of 2 sections of legislative text.
Directs the CFTC to adopt notice-and-comment rules and policies protecting proprietary information, limiting access, and conditioning intergovernmental sharing on comparable safeguards.
Official title: To amend the Commodity Exchange Act of 1936 for the protection of proprietary information, and for other purposes.
Introduced March 26, 2026 by David Rouzer · Last progress March 26, 2026
Requires the Commodity Futures Trading Commission to create binding confidentiality rules and internal policies for "proprietary information" it receives under the Commodity Exchange Act. The bill directs the CFTC, after notice-and-comment rulemaking, to define protections, limit staff access, set safeguards based on sensitivity, require justification when requesting proprietary information, prohibit unlawful use or disclosure, and adopt conditions for sharing such information with other government entities that ensure comparable safeguards.