Proprietary raiding


Regulators and politicians in the US have been busily formulating new legislation to strengthen the financial system since August last year. The House of Representatives passed a bill in December that, among other things, would require standardised over-the-counter derivatives contracts to be cleared through registered clearing organisations, while the Senate is working to finalise its own draft legislation, which it hopes to complete in the next few months (Risk February 2010, pages 61&ndash

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