US legislators outline derivatives proposals
Congressmen Collin Peterson, chairman of the House Agriculture Committee, and Barney Frank, chairman of the House Financial Services Committee, released the paper yesterday. They said it would guide the two committees in the development of legislation to regulate derivatives when Congress returns from the summer recess in September.
The paper said the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC) should oversee regulation of OTC derivative dealers
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