Aluminum Pricing Examination Act Referred in U.S. House, Introduced in Senate

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H.R. 2698, the Aluminum Pricing Examination Act (APEX Act), seeking to extend the jurisdiction of the Commodity Futures Trading Commission to include oversight of markets which set reference prices for aluminum premiums, has been referred to the Subcommittee on Commodity Exchanges, Energy, and Credit from the full Committee on Agriculture. According to the provisions of the bill, the Commission would be given jurisdiction over the markets, including the process, oversight, transparency, and the manner in which reference prices for aluminum premiums are set or reported, and whether the mechanism for setting such reference prices is fair and transparent. Additionally, the Commission would be empowered to consult with the Attorney General on matters of anti-competitive behavior. Identical legislation has been introduced in the Senate.