<section xmlns="http://xml.house.gov/schemas/uslm/1.0" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dcterms="http://purl.org/dc/terms/" style="-uslm-lc:I80" id="idbb8a01e0-aaf5-11e3-a8cb-a7a72594c0f9" identifier="/us/usc/t7/s7b"><num value="7b">§ 7b.</num><heading> Suspension or revocation of designation as registered entity</heading><content>
<p style="-uslm-lc:I11" class="indent0">The failure of a registered entity to comply with any provision of this chapter, or any regulation or order of the Commission under this chapter, shall be cause for the suspension of the registered entity for a period not to exceed 180 days, or revocation of designation as a registered entity, in accordance with the procedures and subject to the judicial review provided in <ref href="/us/usc/t7/s8/b">section 8(b) of this title</ref>.</p>
</content><sourceCredit id="idbb8a01e1-aaf5-11e3-a8cb-a7a72594c0f9">(<ref href="/us/act/1922-09-21/ch369/s5e">Sept. 21, 1922, ch. 369, § 5e</ref>, formerly § 5b, as added <ref href="/us/act/1936-06-15/ch545/s7">June 15, 1936, ch. 545, § 7</ref>, <ref href="/us/stat/49/1498">49 Stat. 1498</ref>; amended <ref href="/us/pl/90/258/s13">Pub. L. 90–258, § 13</ref>, <date date="1968-02-19">Feb. 19, 1968</date>, <ref href="/us/stat/82/30">82 Stat. 30</ref>; <ref href="/us/pl/93/463/s103/a">Pub. L. 93–463, title I, § 103(a)</ref>, (b), <date date="1974-10-23">Oct. 23, 1974</date>, <ref href="/us/stat/88/1392">88 Stat. 1392</ref>; <ref href="/us/pl/102/546/s209/b/3">Pub. L. 102–546, title II, § 209(b)(3)</ref>, <date date="1992-10-28">Oct. 28, 1992</date>, <ref href="/us/stat/106/3607">106 Stat. 3607</ref>; renumbered § 5e and amended <ref href="/us/pl/106/554/s1/a/5">Pub. L. 106–554, § 1(a)(5)</ref> [title I, §§ 110(1), 115], <date date="2000-12-21">Dec. 21, 2000</date>, <ref href="/us/stat/114/2763">114 Stat. 2763</ref>, 2763A–384, 2763A–402; <ref href="/us/pl/110/234/s13203">Pub. L. 110–234, title XIII, § 13203</ref>(<i>l</i>), <date date="2008-05-22">May 22, 2008</date>, <ref href="/us/stat/122/1441">122 Stat. 1441</ref>; <ref href="/us/pl/110/246/s4/a">Pub. L. 110–246, § 4(a)</ref>, title XIII, § 13203(<i>l</i>), <date date="2008-06-18">June 18, 2008</date>, <ref href="/us/stat/122/1664">122 Stat. 1664</ref>, 2203; <ref href="/us/pl/111/203/s749/d">Pub. L. 111–203, title VII, § 749(d)</ref>, <date date="2010-07-21">July 21, 2010</date>, <ref href="/us/stat/124/1747">124 Stat. 1747</ref>.)</sourceCredit>
<notes type="uscNote" id="idbb8a01e2-aaf5-11e3-a8cb-a7a72594c0f9">
<note style="-uslm-lc:I76" topic="codification" id="idbb8a01e3-aaf5-11e3-a8cb-a7a72594c0f9"><heading class="centered smallCaps">Codification</heading>
<p style="-uslm-lc:I21" class="indent0"><ref href="/us/pl/110/234">Pub. L. 110–234</ref> and <ref href="/us/pl/110/246">Pub. L. 110–246</ref> made identical amendments to this section. The amendments by <ref href="/us/pl/110/234">Pub. L. 110–234</ref> were repealed by <ref href="/us/pl/110/246/s4/a">section 4(a) of Pub. L. 110–246</ref>.</p>
</note>
<note style="-uslm-lc:I74" topic="amendments" id="idbb8a01e4-aaf5-11e3-a8cb-a7a72594c0f9"><heading class="centered smallCaps">Amendments</heading><p style="-uslm-lc:I21" class="indent0">2010—<ref href="/us/pl/111/203">Pub. L. 111–203</ref> struck out “or revocation of the right of an electronic trading facility to rely on the exemption set forth in <ref href="/us/usc/t7/s2/h/3">section 2(h)(3) of this title</ref> with respect to a significant price discovery contract,” after “or revocation of designation as a registered entity,”.</p>
<p style="-uslm-lc:I21" class="indent0">2008—<ref href="/us/pl/110/246/s13203">Pub. L. 110–246, § 13203</ref>(<i>l</i>), inserted “, or revocation of the right of an electronic trading facility to rely on the exemption set forth in <ref href="/us/usc/t7/s2/h/3">section 2(h)(3) of this title</ref> with respect to a significant price discovery contract,” after “designation as a registered entity”.</p>
<p style="-uslm-lc:I21" class="indent0">2000—<ref href="/us/pl/106/554/s1/a/5">Pub. L. 106–554, § 1(a)(5)</ref> [title I, § 115], amended section generally. Prior to amendment, section read as follows: “The failure or refusal of any board of trade to comply with any of the provisions of this chapter, or any of the rules, regulations, or orders of the Commission or the commission thereunder, shall be cause for suspending for a period not to exceed six months or revoking the designation of such board of trade as a ‘contract market’ in accordance with the procedure and subject to the judicial review provided in <ref href="/us/usc/t7/s8/b">section 8(b) of this title</ref>.”</p>
<p style="-uslm-lc:I21" class="indent0">1992—<ref href="/us/pl/102/546">Pub. L. 102–546</ref> substituted reference to <ref href="/us/usc/t7/s8/b">section 8(b) of this title</ref> for reference to <ref href="/us/usc/t7/s8">section 8 of this title</ref>.</p>
<p style="-uslm-lc:I21" class="indent0">1974—<ref href="/us/pl/93/463/s103/a">Pub. L. 93–463, § 103(a)</ref>, provided for substitution of “Commission” for “Secretary of Agriculture” except where such words would be stricken by section 103(b), which directed striking the words “the Secretary of Agriculture or” where they appeared in the phrase “the Secretary of Agriculture or the Commission”. Because the word “commission” was not capitalized in the text of this section, section 103(b) did not apply to this section and therefore section 103(a) was executed, resulting in the substitution of “the Commission or the commission” for “the Secretary of Agriculture or the commission”.</p>
<p style="-uslm-lc:I21" class="indent0">1968—<ref href="/us/pl/90/258">Pub. L. 90–258</ref> substituted “rules, regulations, or orders of the Secretary of Agriculture or the commission” for “rules and regulations of the Secretary of Agriculture”.</p>
</note>
<note style="-uslm-lc:I74" topic="effectiveDateOfAmendment" id="idbb8a01e5-aaf5-11e3-a8cb-a7a72594c0f9"><heading class="centered smallCaps">Effective Date of 2010 Amendment</heading><p style="-uslm-lc:I21" class="indent0">Amendment by <ref href="/us/pl/111/203">Pub. L. 111–203</ref> effective on the later of 360 days after <date date="2010-07-21">July 21, 2010</date>, or, to the extent a provision of subtitle A (§§ 711–754) of title VII of <ref href="/us/pl/111/203">Pub. L. 111–203</ref> requires a rulemaking, not less than 60 days after publication of the final rule or regulation implementing such provision of subtitle A, see <ref href="/us/pl/111/203/s754">section 754 of Pub. L. 111–203</ref>, set out as a note under <ref href="/us/usc/t7/s1a">section 1a of this title</ref>.</p>
</note>
<note style="-uslm-lc:I74" topic="effectiveDateOfAmendment" id="idbb8a01e6-aaf5-11e3-a8cb-a7a72594c0f9"><heading class="centered smallCaps">Effective Date of 2008 Amendment</heading><p style="-uslm-lc:I21" class="indent0">Amendment of this section and repeal of <ref href="/us/pl/110/234">Pub. L. 110–234</ref> by <ref href="/us/pl/110/246">Pub. L. 110–246</ref> effective <date date="2008-05-22">May 22, 2008</date>, the date of enactment of <ref href="/us/pl/110/234">Pub. L. 110–234</ref>, except as otherwise provided, see <ref href="/us/pl/110/246/s4">section 4 of Pub. L. 110–246</ref>, set out as an Effective Date note under <ref href="/us/usc/t7/s8701">section 8701 of this title</ref>.</p>
<p style="-uslm-lc:I21" class="indent0">Amendment by section 13203(<i>l</i>) of <ref href="/us/pl/110/246">Pub. L. 110–246</ref> effective <date date="2008-06-18">June 18, 2008</date>, see <ref href="/us/pl/110/246/s13204/a">section 13204(a) of Pub. L. 110–246</ref>, set out as a note under <ref href="/us/usc/t7/s2">section 2 of this title</ref>.</p>
</note>
<note style="-uslm-lc:I74" topic="effectiveDateOfAmendment" id="idbb8a01e7-aaf5-11e3-a8cb-a7a72594c0f9"><heading class="centered smallCaps">Effective Date of 1974 Amendment</heading><p style="-uslm-lc:I21" class="indent0">For effective date of amendment by <ref href="/us/pl/93/463">Pub. L. 93–463</ref>, see <ref href="/us/pl/93/463/s418">section 418 of Pub. L. 93–463</ref>, set out as a note under <ref href="/us/usc/t7/s2">section 2 of this title</ref>.</p>
</note>
<note style="-uslm-lc:I74" topic="effectiveDateOfAmendment" id="idbb8a01e8-aaf5-11e3-a8cb-a7a72594c0f9"><heading class="centered smallCaps">Effective Date of 1968 Amendment</heading><p style="-uslm-lc:I21" class="indent0">Amendment by <ref href="/us/pl/90/258">Pub. L. 90–258</ref> effective 120 days after <date date="1968-02-19">Feb. 19, 1968</date>, see <ref href="/us/pl/90/258/s28">section 28 of Pub. L. 90–258</ref>, set out as a note under <ref href="/us/usc/t7/s2">section 2 of this title</ref>.</p>
</note>
<note style="-uslm-lc:I74" topic="effectiveDate" id="idbb8a01e9-aaf5-11e3-a8cb-a7a72594c0f9"><heading class="centered smallCaps">Effective Date</heading><p style="-uslm-lc:I21" class="indent0">For effective date of section, see section 13 of act <date date="1936-06-15">June 15, 1936</date>, set out as an Effective Date of 1936 Amendment note under <ref href="/us/usc/t7/s1">section 1 of this title</ref>.</p>
</note>
</notes>
</section>