Securities Law Updates | New Proposed Legislation
May 27, 2010
Senate Agriculture Committee Passes Bill Regulating $600 Trillion Over-the-Counter Derivatives Market
Wall Street Transparency and Accountability Act of 2010
S. ______, 4/21/2010
Voting 13 to 8, the Senate Committee on Agriculture, Nutrition and Forestry passed the Wall Street Transparency and Accountability Act of 2010, a legislation designed to reform the unregulated $600 trillion over-the-counter derivatives market.
The features of the bill, sponsored by U.S. Senator Blanche Lincoln, D-Ark., Chairman of the Committee, included the following:
- Brings 100 percent transparency to market with real-time price reporting
The public will see what is being traded, who is doing the trading and, most importantly, regulators can go after fraud, manipulation and excessive speculation.
- Lowers systemic risk by requiring mandatory trading and clearing
…
To continue reading this article, subscribe now
It's FREE and only takes seconds
