Posted on April 21, 2010 by Hunton & Williams LLP Print This Article

Derivatives Bill Approved by Senate Agriculture Committee; Senate Banking Committee Posts Report on Dodd Financial Reform Bill

Today the Senate Agriculture, Nutrition and Forestry Committee approved a derivatives regulation bill called "The Wall Street Transparency and Accountability Act of 2010.” Today's Senate Agriculture Committee vote of 13-8 was largely along party lines with one Republican vote coming from Sen. Charles Grassley (R-IA). The legislation, originally released April 16, 2010 by Senate Agriculture Committee Chairman Blanche Lincoln (D-AR), and must now be incorporated into the financial reform bill passed out of the Senate Banking Committee on March 22, 2010, the "Restoring American Financial Stability Act" is expected to be taken up on the Senate floor this coming week. 

Click here for the Senate Agriculture Committee's press release, click here for bill, click here for a summary of the bill, and click here for a section by section analysis.

Meanwhile, the Senate Banking Committee released today its report on "Restoring American Financial Stability Act."

Click here for the Senate Banking Committee's report, click here for bill, and click here for a summary of the bill.

Posted on April 16, 2010 by Hunton & Williams LLP Print This Article

Senate Derivatives Regulation Bill Unveiled

Today Senate Agriculture, Nutrition and Forestry Committee Chairman Blanche Lincoln (D-AR) unveiled her derivatives regulation draft bill called the “The Wall Street Transparency and Accountability Act of 2010.”  The draft legislation addresses such issues as clearing and trading requirements and real-time reporting of derivative trades.  The Senate Agriculture Committee, which will mark-up the draft bill next week, has jurisdiction over the Commodity Futures Trading Commission which oversees the derivatives market.  Today's release of draft legislation comes after Senate Banking Committee Chairman Christopher Dodd (D-CT) released his own draft bill on March 15, 2010 and is expected to be taken up on the Senate floor in the coming weeks.
 
Click here for the draft legislation, click here for a summary, and click here for today's press release.