1.1Senator Johnson moved to amend
S.F. No. 4511 as follows (...):
1.2Page 5, after line 6, insert:
1.3 "
Subd. 5. Application of penalties; Commodity Future Trading Commission
1.4registration. Notwithstanding any other provision of this section, no penalty shall apply to
1.5any entity registered with the Commodity Futures Trading Commission as a designated
1.6contract market or derivatives clearing organization or to any person facilitating
or supporting
1.7transactions on such an entity, unless and until, a final, nonappealable judgment
of a federal
1.8court of competent jurisdiction holds that state regulation of such entity is not
preempted
1.9by the Commodity Exchange Act."
1.10Amend the title accordingly
1.11The motion prevailed. #did not prevail. So the amendment was #not adopted.