In New Rules to Shine Light on Derivatives, Regulators Also Allow Exemptions
New York Times
By Ben Protess
July 10, 2012
The rules, stemming from the Dodd-Frank financial regulatory law, will give regulators more control over the $700 trillion derivatives industry, an opaque business that was blamed for many of the ills of the 2008 crisis. While regulators have spent more than two years retooling the sector, the latest reforms laid crucial building blocks for the remaining aspects of the Wall Street overhaul.
Americans for Financial Reform, a group that supports Dodd-Frank, praised the agency’s actions on Tuesday while noting that “the rules do contain significant exemptions that are a threat to effective reform.”