Amendment Would Make Firms Disclose Short Sales

Law360, New York (May 3, 2010, 1:22 PM EDT) -- Sen. Ron Wyden, D-Ore., is taking aim at the alleged practices that landed Goldman Sachs Group Inc. in hot water with a proposed amendment to financial regulatory reform legislation that would require investment firms to disclose to buyers any stake they have in seeing a financial product lose value.

Wyden's amendment, filed Wednesday, will be offered in coming weeks as S. 3217, the Restoring American Financial Stability Act, sponsored by Sen. Christopher Dodd, D-Conn., hits the U.S. Senate floor for debate and markup.

The measure would...
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