Lawmakers Challenge Derivatives Rules
Ben Protess (NYT/Dealbook)
June 23, 2011
“A growing number of lawmakers are pressuring regulators to water down a series of new rules for the derivatives industry. The lawmakers, Republicans and Democrats alike, argue that some proposed rules could force Wall Street’s derivatives business overseas. They also say that regulators are ignoring a crucial exemption to the rules spelled out in the Dodd-Frank financial regulatory law. ‘The Dodd-Frank Act was intended to and should to bring real change to the derivatives market,’ Americans for Financial Reform said in a recent letter to the commodities agency.” Click here for more.