2nd House Committee OKs Delay For Swap Rules

Law360, New York (May 24, 2011, 8:11 PM EDT) -- A U.S. House of Representatives committee in a party-line vote Tuesday approved a bill that would delay the regulation of the more than $600 trillion derivatives market until September 2012.

The House Financial Services Committee approved H.R. 1573 in a 30-24 vote, with all Republicans on the committee voting for the bill and all present Democrats voting against it. Republicans have been pushing to delay the implementation of rules governing swaps and other derivatives transactions required under the Dodd-Frank Wall Street Reform and Consumer Protection Act,...
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