Driven by the financial market excesses that led to the recent collapse of major financial institutions, the U.S. House of Representatives Friday passed by a vote of 223 to 202 a financial regulatory reform bill that would regulate over-the-counter (OTC) derivatives for the first time, set position limits for futures commodities trading, create a Consumer Financial Protection Agency and set an orderly process for winding down large, failing non-bank financial institutions.
Excesses
Articles from Excesses
House Passes Bill to Regulate OTC Market, Set Position Limits
Driven by the financial market excesses that led to the recent collapse of major financial institutions, the U.S. House of Representatives Friday passed by a vote of 223 to 202 a financial regulatory reform bill that would regulate over-the-counter (OTC) derivatives for the first time, set position limits for futures commodity trading, create a Consumer Financial Protection Agency and set an orderly process for winding down large, failing non-bank financial institutions.
December 14, 2009
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