House Committee OKs Bill To Delay New Swap Rules

Law360, New York (May 4, 2011, 5:27 PM EDT) -- Lawmakers in the U.S. House of Representatives voted Wednesday in favor of a bill that would delay by 18 months the implementation of new rules aimed at regulating the estimated $600 trillion derivatives market.

The House Committee on Agriculture, which oversees the U.S. Commodity Futures Trading Commission, voted 25-20 along party lines in favor of the legislation, introduced in order to quell concern that agencies have rushed to enact new regulations governing the complicated financial products that some say helped cause the financial crisis.

Rep. Frank...
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