1. Short title This Act may be cited as the Futures Investor Protection Act . 2. Futures investors protection fund (a) Futures investor protection corporation (1) Creation and membership (A) Creation There is established a nonprofit corporation to be known as the Futures Investor Protection Corporation (in this Act referred to as the FIPC ), which shall not be an agency or establishment of the United States Government. (B) Membership (i) Members of fipc The FIPC shall be a membership corporation the members of which shall be all persons registered under the Commodity Exchange Act with the Commission as a futures commission merchant, other than persons whose principal business, in the determination of the FIPC, taking into account business of affiliated entities, is conducted outside the United States and its territories and possessions. (ii) Commission review