Law360, New York (April 18, 2011, 6:02 PM ET) -- A Republican congressman from New York announced legislation Monday that would exempt companies that hedge business risks from pending margin requirements on over-the-counter derivatives.
Rep. Michael Grimm, who represents Staten Island and parts of Brooklyn, said the Business Risk Mitigation and Price Stabilization Act of 2011 would spare “true end users” from having to post margin requirements under rules required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was passed last July.
“Dodd-Frank over-reached when it included true end users who simply use...
Bill Would Shield 'True End Users' From OTC Margins
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