To amend the Commodity Exchange Act to require a review of current exemptions granted to foreign entities in response to an attempt by a foreign authority to exercise direct supervisory authority over a domestic derivatives clearing organization.

“(j) Response to foreign regulatory authority—If a foreign authority seeks to assert direct supervisory authority over a derivatives clearing organization that is domiciled in the United States, the Commission shall review the appropriateness of the exemptions granted to foreign entities, including clearinghouses, under the jurisdiction of the foreign authority.”