OTC Derivative Reform Clears 1st Hurdle In House

By Jessica Dye

Law360, New York (October 15, 2009, 12:38 PM ET) -- The U.S. House of Representatives' Financial Services Committee voted Thursday to approve a landmark bill designed to introduce new regulation and transparency to the over-the-counter derivatives market, a key provision of the Obama administration's financial reform agenda.

Representatives voted 43 to 26 in favor of the Over-the-Counter Derivatives Market Act, which gives the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission joint authority over the OTC market, puts capital and margin requirements on derivatives traders and compels firms to process derivative products through...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles