The Newswire for Business Lawyers

OTC Derivative Reform Clears 1st Hurdle In House

Law360, New York (October 15, 2009) -- 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...

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