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ARTICLE · 13 JULY 2010

Preparing for Financial Reform: Derivatives

Ropes & Gray LLP
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The Senate has proposed strict federal regulation of over-the-counter (OTC) derivatives transactions in the Wall Street Transparency and Accountability Act of 2010, Title VII of the Senate financial overhaul bill, the Restoring American Financial Stability Act of 2010 which passed on May 20, 2010.

United StatesFinance and Banking
Leigh R. Fraser
Leigh R. Fraser
Daniel Danello
Daniel Danello
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The Senate has proposed strict federal regulation of over-the-counter (OTC) derivatives transactions in the Wall Street Transparency and Accountability Act of 2010, Title VII of the Senate financial overhaul bill, the Restoring American Financial Stability Act of 2010 which passed on May 20, 2010. The Senate bill takes a firmer hand to regulating the derivatives market than either the Obama administration or the House of Representatives recommended (the August 2009 U.S. Treasury proposal and December 2009 House bill to oversee OTC derivatives were discussed in earlier Ropes & Gray Alerts—U.S. Treasury Proposes Bill for Increased Federal Regulation of OTC Derivatives (August 14, 2009), and Potential Effects on Funds and Investment Advisers of The Wall Street Reform and Consumer Protection Act of 2009 (January 11, 2010), respectively).

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