US bill proposes greater OTC regulation

Defazio argued that the formation of such an amalgamated body is a necessary step towards his proposal to end the present CFTC’s regulatory exemption of OTC derivatives.

“It’s clear that the relentless drive to deregulate financial markets has left investors and consumers vulnerable,” said DeFazio.

But industry sources rate the passage of DeFazio's bill a low possibility. DeFazio, they said, is on none of the key legislative committees where his bill would be worked up, nor have chairman of key

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