Senate Panel Clears Strong Derivatives Bill

Law360, New York (April 21, 2010, 3:50 PM EDT) -- The Senate Committee on Agriculture, Nutrition and Forestry on Wednesday approved a slightly modified proposal from chairwoman Blanche Lincoln, D-Ark., that Democrats say will bring 100 percent transparency to the unregulated $600 trillion over-the-counter derivatives market.

All 12 committee Democrats and Sen. Chuck Grassley, R-Iowa, voted 13-8 to advance the Wall Street Transparency and Accountability Act of 2010, sending it to the Senate floor, where it will be combined with broader financial regulatory reform legislation sponsored by Senate Banking Committee chairman Christopher Dodd, D-Conn.

“The Senate...
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