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No Swap End-User Margins in Bank Bill-Frank Aide

By Kevin Drawbaugh
Published: June 30 2010 Reuters

The Wall Street reform bill would not impose margin and capital requirements on swap end-users, a spokesman for Representative Barney Frank said on Wednesday, downplaying concerns raised by a senior Republican.

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Reid Delays Scheduling Vote on Financial Regulation

By David Herszenhorn
Published: June 30 2010 DealBook

The Senate will not be able to complete legislation to overhaul the nation's financial regulatory system this week, the majority leader, Harry Reid of Nevada, said on Wednesday, after Senator Scott Brown, Republican of Massachusetts, announced that he would use the Fourth of July recess to study the bill.

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Democrats Make Final Push on Financial Reform

By Andy Sullivan
Published: June 30 2010 Reuters

Democrats are mounting a final push to send President Barack Obama their landmark overhaul of financial regulations, but the death of a colleague and cold feet among Republican allies could postpone a final victory.

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Democrats Deny Margins for Swap End-Users in Bill

By Kevin Drawbaugh
Published: June 30 2010 Reuters

The financial overhaul bill would not impose margin and capital requirements on swap end-users, senior Democrats said on Wednesday, accusing Wall Street firms of trying to frighten Main Street businesses.

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Volcker Said to be Disappointed with Final Version of His Rule

By Yalman Onaran
Published: June 30 2010 BusinessWeek

Paul Volcker is disappointed with the final version of the rule that bears his name.

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Born Gives Tentative Approval to New Regulations

By Cyrus Sanati
Published: June 29 2010 DealBook

Brooksley E. Born, a member of the Financial Crisis Inquiry Commission and a major advocate for overhauling derivatives market regulations, said on Tuesday that she supports the financial rules bill hammered out by Congressional negotiators last week.

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New Pecking Order in Derivatives?

By Ivy Schmerken
Published: June 29 2010 Advanced Trading

Exchanges and clearinghouses are expected to win big from the new derivatives rules in the financial reform bill that passed last week. In a video interview with CNBC yesterday, Jon Najarian, co-founder of Optionmonster.com, said the new rules for derivatives are a game changer for the exchanges and a buying opportunity for investors.

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RWE Slams ‘One Size Fits All’ EU Clearing Rules Plan

By Ewa Krukowska
Published: June 29 2010 BusinessWeek

RWE AG, Germany's second-largest utility, said European Union plans for tighter regulation of the over-the-counter derivatives market would boost costs for energy buyers and sellers by "tens of billions" of euros.

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The 10 Missteps of Financial Reform

By David Weidner
Published: June 29 2010 MarketWatch

Washington has shuffled the deck Wall Street plays with, hoping to create a new and safer game, but anyone who's gone back to the table after a big loss knows the score.

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Lawmakers Vow to Fix Financial Reform Bill’s Swap Trading Error

By Matthew Leising
Published: June 29 2010 Bloomberg

U.S. lawmakers vowed to fix a technical error in the financial overhaul bill that could exempt more than 90 percent of swaps from new trading mandates if not corrected.

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The Bottom Line on Financial Regulation

By Jia Lynn Yang
Published: June 29 2010 The Washington Post

The House and Senate are getting ready to vote on new rules regulating Wall Street after lawmakers spent last week hammering out a final version of the bill. Democratic leaders still hope to deliver the legislation to President Obama's desk by July 4, although the death of Sen. Robert C. Byrd (D-W.Va.) could complicate matters.

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Democrats Consider Changing Financial Bill

By Damian Paletta
Published: June 29 2010 WSJ

Democrats seem to have gotten the message from Sen. Scott Brown (R., Mass.) that the $18 billion fee in the financial overhaul bill won't fly.

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Derivatives Laws Could Cost Companies $1 Trillion: ISDA

By Karen Brettell
Published: June 29 2010 Reuters

U.S. companies could face as much as $1 trillion in additional costs as a result of new laws designed to reduce risks in the $450 trillion, privately traded derivatives market, a derivatives trade group said on Tuesday.

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Finance Overhaul Faces Tough Math in Senate

By Victoria McGrane and Corey Boles
Published: June 28 2010 WSJ

Inches from the finish line on the most sweeping overhaul of U.S. financial regulations since the 1930s, the math to passing the final bill in the Senate is getting difficult.

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Strong Enough for Tough Stains?

By Gretchen Morgenson
Published: June 28 2010 DealBook

Our nation's Congressional machinery was humming last week as legislators reconciled the differences between the labyrinthine financial reforms proposed by the Senate and the House and emerged early Friday morning with a voluminous new law in hand. They christened it the Dodd-Frank bill, after the heads of the Senate Banking and House Financial Services Committees who drove the process toward the finish line.

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Byrd Death Complicates Senate Vote for Finance Bill

By Patrick O'Connor and Phil Mattingly
Published: June 28 2010 BusinessWeek

The death of Democratic Senator Robert Byrd of West Virginia may delay the vote on a package of new rules for Wall Street.

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For Exchanges, Financial Bill Has Some Benefits

By Cyrus Sanati
Published: June 28 2010 DealBook

The sweeping financial regulatory bill does have some benefits for parts of Wall Street. While the banks will face more restrictions, the exchanges potentially stand to win big as a result of new rules on the trading of certain derivative contracts, gaining possibly billions of dollars in new revenue.

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Dodd-Frank Bill is No Glass-Steagall

By Aline van Duyn and Francesco Guerrera
Published: June 27 2010 FT

"Hearings revealed conflicts of interest and fraud in some banking institutions' securities activities. A formidable barrier to the mixing of these activities was then set up."

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Senator's Concern May Complicate Wall Street Bill Vote

By Doug Palmer
Published: June 26 2010 Reuters

President Barack Obama's efforts to win final approval of a historic financial regulatory reform bill looked more complicated on Saturday after a Republican senator threatened to oppose it.

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Important Steps, No Cure-All

By Jon Hilsenrath
Published: June 26 2010 WSJ
 
The once-in-a-generation rewrite of the rules of finance Congress is on the verge of passing is designed to cut the odds of repeating the recent financial crisis and the devastating recession and taxpayer bailouts that followed.
 
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Wall Street Dodges Bullet on Derivatives

By David Ellis
Published: June 25 2010 CNNMoney

It's a brave new world for the derivatives market. Or is it?

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Bank Ownership Cap on Clearing, Execution Firms Dropped in Bill

By Matthew Leising
Published: June 25 2010 BusinessWeek

Banks won't have to worry about curbs on owning parts of derivatives clearinghouses or execution services after a plan to limit their stakes was excluded from U.S. legislation.

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Senior EC Policymaker Hints at G20 Rethink on OTC Derivatives

By Louise Bowman
Published: June 25 2010 Euromoney

Central clearing and exchange trading of OTC derivatives is a concept so dear to regulators hearts that it has become something of a mantra for them - particularly since the demise of Lehman Brothers and the counterparty risks that were brutally revealed by that event.

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Obama Praises Lawmakers for Financial Reform Bill

By Tabassum Zakaria and Deborah Charles
Published: June 25 2010 Reuters

President Barack Obama on Friday praised lawmakers for agreeing on a historic overhaul of financial regulations that he called the "toughest consumer financial protections" in U.S. history.

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Wall Street Reform Ready for Final Votes

By Jennifer Liberto
Published: June 25 2010 CNNMoney

After a grueling 20-hour session, lawmakers early Friday finished melding the House and Senate Wall Street reform bills, bringing Congress closer to passing the most sweeping changes to the financial system since the New Deal.

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Major Provisions in the Financial Overhaul Bill

By Victoria McGrane  
Published: June 25 2010 WSJ

The sweeping financial overhaul legislation negotiators wrapped up early Friday morning would constitute the biggest overhaul of U.S. financial regulations since the 1930s. The legislation, broadly, is designed to close the regulatory gaps and end the speculative trading practices that contributed to the 2008 financial market crisis.

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U.S. Lawmakers Reach Agreement on Lincoln Swaps-Desk Measure

By Phil Mattingly
Published: June 25 2010 Bloomberg

U.S. lawmakers reached a compromise on a measure that will force banks to move their swaps-trading desks to subsidiaries, clearing the way for a final agreement on the biggest overhaul of financial regulation since the 1930.

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US Lawmakers Float Compromise On Derivatives

By Michael R. Crittenden 
Published: June 25 2010 Dow Jones Newswires

U.S. lawmakers exited hours of negotiations over derivatives legislation with a proposal that would allow banks to retain some of their lucrative swaps desks, though support for the compromise remains uncertain.

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House-Senate Panel Works to Move Financial Regulation Bill to Obama

By Brady Dennis
Published: June 25 2010 The Washington Post

Lawmakers pressed deep into the night Thursday, trying to solidify a series of political deals in an effort to get a bill that would overhaul the nation's financial regulation to President Obama by July 4.

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CFTC to Gain Greater Prominence

By Gregory Meyer and Aline van Duyn
Published: June 24 2010 FT

New US financial legislation will turn a regulator established in the 1970s to police American corn and wheat trading into the world's leading derivatives watchdog.

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Derivatives Amendment May Limit Competition: SDMA

By Karen Brettell
Published: June 24 2010 ABC News

Last minute proposals to U.S. legislation designed to reduce risks in the $450 trillion derivatives markets may limit competition among firms seeking to centrally clear contracts, a trade association said on Thursday.

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House Derivatives Proposal Seen Cementing Futures Market Rules

By Jacob Bunge and Sarah N. Lynch
Published: June 24 2010 Dow Jones Newswires

U.S. House negotiators working on finalizing the financial overhaul bill are expected to float a proposed change to new derivatives rules that would allow futures exchanges to maintain their hold over trade, according to Republican House aides. 

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CFTC's Gensler Goes Down to Wire for Swaps Reform

By Rachelle Younglai and Roberta Rampton
Published: June 24 2010 Reuters

As lawmakers bargained, fretted and sweated through talks to wrap up the U.S. financial reform bill on Thursday, there was a single regulator whose ubiquitous presence was a reminder of one of the toughest issues to resolve.

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Democrats Pressure Lincoln to Change Derivatives Plan in Reform Measure

By David Cho
Published: June 24 2010 The Washington Post

Democratic leaders pressured Sen. Blanche Lincoln (D-Ark.) Wednesday to scale back a proposal that would force big banks to spin off their derivatives businesses, highlighting a conflict that has the potential to crack Democratic support behind the massive regulatory reform bill as it nears final passage.

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Volcker Rule Attacked as Lawmakers Seek Fund Loophole

By Yalman Onaran
Published: June 23 2010 BusinessWeek

Senate negotiators will probably offer changes today to the financial overhaul bill to soften the Volcker rule by allowing banks to sponsor hedge funds and invest their own money, within limits, alongside that of clients. 

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Quick View: Crunch Time for Derivatives Reform

By Jeremy Grant
Published: June 23 2010 FT

On Thursday, lawmakers will take the House of Representatives' financial reform bill, put it together with the Senate's version and try and come up with a workable compromise between the two, before sending it to the president's desk to be signed into law.

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Senate Dems Eye Easing Volcker Rule's Fund Limits

Published: June 23 2010 Reuters

The Senate was moving on Wednesday to water down the controversial "Volcker rule" on bank trading and investing as lawmakers raced to complete landmark Wall Street reform legislation within days.

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Editorial: The Derivatives Endgame

Published: June 23 2010 NYT

Financial reform enters a crucial phase on Thursday as House and Senate negotiators begin public debate on the regulation of derivatives, the complex instruments at the heart of the financial crisis.

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Why the OTC Derivatives Must be Cleared

By Gertrude Tumpel-Gugerell
Published: June 22 2010 FT

Cases such as AIG not being able to pay mounting claims on its derivatives contracts and the default of Lehman Brothers, a major player in over-the-counter (OTC) derivatives markets, have brought to the fore the systemic importance of derivatives for the overall financial system.

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Berlin Plays Down G20 Spat with US

By Quentin Peel
Published: June 22 2010 FT

The German government on Tuesday played down reports of a serious clash with the US over the need for continued economic stimulus spending to revive growth, calling instead for a co-ordinated exit strategy from all members of the Group of 20 large global economies.

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Thorny Issues Remain as Congress Negotiates Financial Regulatory Overhaul

By Brady Dennis and Dina ElBoghdady
Published: June 22 2010 The Washington Post

One evening late last week, as House and Senate negotiators wound down another marathon session hammering out details of a massive financial regulatory overhaul, Sen. Christopher J. Dodd (D-Conn.) uttered what almost everyone else in the room was thinking.

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Italy Finance Min: Only Missing Rule is the One On Derivatives

By Stefania Spezzati and Jennifer Clark
Published: June 21 2010 Dow Jones Newswires

Italian Finance Minister Giulio Tremonti said Monday he believes that the only missing rule within the global financial system is the one on how to take into account of derivatives on company balance sheets.

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France to Raise Commodity Derivatives at G-20, Lagarde Writes in Les Echos

By David Whitehouse
Published: June 21 2010 Bloomberg

France plans to raise the question of the regulation of commodity derivatives with G-20 nations, French Finance Minister Christine Lagarde wrote in an article in Les Echos.

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Wall Street Reform Comes Down to the Wire

By Jennifer Liberto
Published: June 21 2010 CNN Money

With one week down and one week to go on negotiations melding the two Wall Street reform bills, lawmakers have a lot of tough decisions ahead.

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Business Rallies to Shape Finance Endgame

By Damian Paletta and David Wessel
Published: June 21 2010 WSJ

Caterpillar Inc., Cargill Inc. and the municipal utility of Sacramento, Calif., were largely bystanders in the financial crisis.

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Dodd: Defending a Senate Bill Against All Comers

By Jim Kuhnhenn
Published: June 21 2010 AP

It was near the end of a long day and Sen. Christopher Dodd, in his shirt sleeves with 1,900 pages of proposed financial regulations stacked in front of him, had been scanning the hearing room of the House Financial Services Committee.

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Banks Granted Another Year Over Derivatives

By Jeremy Grant
Published: June 19 2010 FT

Banks engaged in trading some of the complex derivatives that were at the heart of the financial crisis were yesterday given almost a year of extra time to adjust to new capital charges that are expected to make it more expensive to use them.

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A Testy Slog as Finance Bill Nears Completion

By Damian Paletta and Victoria McGrane
Published: June 19 2010 WSJ

Several hours into another debate on financial regulation, House Democrats and Republicans locked horns Wednesday for the umpteenth time over who was to blame for the near-collapse of Fannie Mae and Freddie Mac.

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London 'at Risk' from EU Reforms

By Jeremy Grant and Nikki Tait
Published: June 18 2010 FT

The abolition of the Financial Services Authority casts doubt on the UK's ability to defend the business of trading at a time of wide-ranging regulatory reform in continental Europe, trading experts say.

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U.S. House Democrats Lobby to Strip Swaps Rule From Overhaul

By Phil Mattingly
Published: June 17 2010 BusinessWeek

A coalition of U.S. House Democrats asked their colleagues to remove a contentious derivatives rule from the financial-regulation overhaul bill, intensifying the debate over the provision in the days before its final consideration.

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White House, Top Lawmakers Hold Late-Night Meeting on Financial Bill

By Victoria McGrane and Damian Paletta
Published: June 17 2010 WSJ

Top Obama administration officials held a closed-door strategy meeting Thursday night with key Democrats to plot the final stages of the year-long effort to rework financial rules.

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Banks Write To Sen. Lincoln Seeking Swap Spinoff Exemption

By Katy Burne
Published: June 17 2010 Dow Jones Newswires

A group of 21 community and regional U.S. banks has written to Senate Agriculture Committee Chairman Blanche Lincoln (D., Ark.) asking her to exempt them from a provision in the financial legislation that would force big derivatives dealers to spin off their swaps desks.

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Ill-timed FSA Reforms Setback for Markets

By Jeremy Grant
Published: June 17 2010 FT

The abolition of the Financial Services Authority could not come at a worse time for anyone in the UK's market structures industry.

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U.S. Congress Dems Shoring Up Lincoln Swaps Plan

By Kevin Drawbaugh and Charles Abbott
Published: June 17 2010 Reuters

Democrats were working on Wednesday to bolster a plan that would force big banks to spin off their swap dealing desks, with backers of Senator Blanche Lincoln's controversial proposal aiming to push forward.

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New Democrats Seek Swaps Trading Change, Oppose Lincoln Plan

By Matthew Leising
Published: June 16 2010 BusinessWeek

A group of House Democrats wants congressional leaders to change rules on how swaps can be traded and drop a plan to separate derivatives trading from commercial banking as the U.S. overhauls its financial industry.

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Bullard Joins Two Colleagues Backing Derivatives Curb

By Vivien Lou Chen and Steve Matthews
Published: June 16 2010 BusinessWeek

Federal Reserve Bank of St. Louis President James Bullard joined two colleagues in support of a proposal by Senator Blanche Lincoln that would force commercial banks to wall off their swaps-trading desks.

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BIS Official Warns of Derivatives Rules Loopholes

By Huw Jones
Published: June 16 2010 Reuters

Planned rules to shine a light on the $615 trillion off-exchange derivatives market could create loopholes for top users to avoid curbs on risk, a Bank for International Settlements official said on Wednesday. The Group of 20 leading countries have agreed that standardised derivatives contracts should be centrally cleared by the end of 2012. It is part of wider efforts to learn from the financial crisis by improving transparency and making the financial system more stable.

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Derivatives Dealers Clash Over Clearing Access

By Aline van Duyn and Michael Mackenzie
Published: June 16 2010 FT

Small banks and brokers have told regulators that big derivatives dealers are blocking their access to clearing of over-the-counter derivatives, limiting the scope for new entrants into the derivatives market. 

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Derivatives Reform Could Boost Foreign Banks

By Dan Wilchins and Elinor Comlay
Published: June 16 2010 Reuters

A proposal designed to insulate banks from bad derivatives trades could reshape the way the contracts are traded in the United States, making foreign banks more powerful and helping start-ups win market share.

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New Spin on Derivatives Debate

By Peter Eavis
Published: June 16 2010 WSJ

Moving a bad piece of cheese around different drawers in the fridge won't make it taste any better.

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Wall Street Reform to Move on Swap Desks

By Charles Abbott
Published: June 15 2010 Reuters

The Wall Street reform law being written by House and Senate negotiators will include some splitting off of swaps desks from banks, a key House negotiator told Reuters on Tuesday.

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EU May Differ with U.S. on Derivatives Trading

By Huw Jones
Published: June 15 2010 Reuters

The European Union has not decided whether to force banks to trade derivatives on an exchange to improve transparency and curb risk, a senior official at the EU's executive said on Tuesday.

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Sen. Blanche Lincoln's Derivatives-Spinoff Plan Gains Support in Congress

By Brady Dennis
Published: June 15 2010 The Washington Post

An effort to force some of the nation's biggest banks to spin off their lucrative derivatives-dealing operations appears to be gaining traction, as members of a House-Senate conference begin finalizing details of far-reaching new financial regulations.

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Schapiro Says S.E.C. Must Grow to Meet Demand

Published: June 15 2010 NYT

The Securities and Exchange Commission needs to continue to grow to meet demand for more regulation on things like ratings agencies, derivatives, and swaps, Chairman Mary Schapiro said on Monday, Reuters reported.

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Senator Pitches a Tamer Bank Bill

By Damian Paletta
Published: June 15 2010 WSJ

A key senator who has championed strict rules on derivative trading for banks has offered a retooled version of her plan that would allow banks to keep derivatives-trading businesses but could force them to raise billions in capital to do so.

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Impediments to U.S. Plan for Derivatives Clearing Remain-SDMA

By Karen Brettell
Published: June 15 2010 Reuters

Efforts to expand central clearing in the $450 trillion privately traded derivatives markets are being impeded by clearing membership restrictions and rules to exempt some companies from clearing, among other factors, a trade association said on Tuesday.

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Sen. Lincoln Offers Clarifications on Plan to Spin Off Derivatives

By Damian Paletta
Published: June 14 2010 WSJ

Senate Agriculture Committee Chairman Blanche Lincoln (D., Ark.) is floating clarifications to her controversial provision in the financial overhaul bill that focuses on the ability of bank holding companies to act as derivatives dealers.

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Europe-Wide Body to Oversee OTC Clearing

By Nikki Tait and Jeremy Grant
Published: June 14 2010 FT

A new pan-European supervisory agency is set to be given a crucial role to decide which over-the-counter derivatives contracts must be cleared centrally, by European Union proposals to regulate the swaps market.

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Senate’s Lincoln Considers Compromise on Swaps-Desk Provision

By Phil Mattingly
Published: June 14 2010 BusinessWeek

Senator Blanche Lincoln is considering compromise language to her derivatives proposal that would phase in over two years a requirement that commercial banks push out their swaps trading desks to subsidiaries.

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ISDA Comments on European Commission Consultation

Published: June 14 2010 DerivSource

Following publication of the European Commission (EC)'s consultation papers on the regulation of the over-the-counter (OTC) derivatives markets, the International Swaps and Derivatives Association, Inc. (ISDA) today made a statement.

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Emergency Powers to Ban Naked CDS Trading Proposed by EU Agency

By Ben Moshinsky
Published: June 14 2010 BusinessWeek

National regulators may be given "emergency powers" to "temporarily prohibit or restrict" naked credit-default swaps trades, under proposals being considered by the European Union in the wake of the Greek debt crisis.

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Giving In on Trading, Bankers Turn to Other Losses

By Edward Wyatt
Published: June 14 2010 NYT

Bankers have all but given up on defeating one of the most contentious provisions in the financial regulation bill - one that would effectively bar federally insured banks from trading for their own accounts - and are now focusing on battles like heading off a prohibition on derivatives trading.

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Congress Nears Deal on Bank Trading Crackdown

By Kevin Drawbaugh
Published: June 14 2010 Reuters

One of the last major agreements needed to approve historic Wall Street reform -- a compromise on curbing risky bank trading -- was close at hand as U.S. lawmakers moved toward melding three key proposals.

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U.S. Congress Nears Deal on Bank Trading Crackdown

By Kevin Drawbaugh and Rachelle Younglai
Published: June 14 2010 Reuters

Banks looked increasingly likely to face some limits on swap trading as a proposal to rein in risky business practices gained traction among U.S. lawmakers negotiating a landmark Wall Street reform bill.

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A Rude Awakening for OTC Derivative Executions: Buying a Bandwagon Seat

By Kevin McPartland
Published: June 13 2010 TabbFORUM

The current execution landscape for OTC derivatives is in for a rude awakening.  Index CDS and the most liquid interest rate swaps (2-, 5-, 7- and 10-year) are set to move into a world of high speed messaging and even higher speed analytics.  Many have already discussed how an expected execution mandate for OTC derivative products will cut spreads and subsequently dealer profits, but the extent to which the landscape will change has been underestimated.

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New Rules for Wall Street Must Clear Final Hurdles

By Jim Kuhnhenn
Published: June 13 2010 AP

From big banks' exotic trades to the plastic in people's wallets, it only take a few of the most contentious issues to upend a careful political equilibrium as lawmakers try to blend House and Senate bills into a single rewrite of banking regulations.

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Dropping Swaps Plan for Volcker Rule May Not Reduce Bank Risk

By Matthew Leising
Published: June 11 2010 BusinessWeek

A Congressional plan to ban proprietary trading by banks may still allow them to take risks with private derivatives in transactions initiated by customers.

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Democrats Spar Over Derivatives Rules

By Damian Paletta
Published: June 11 2010 WSJ

Democratic efforts to swiftly steer a financial-overhaul bill into law stumbled as House and Senate leaders clashed over how best to regulate the $600 trillion derivatives market.

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CFTC's Gensler: Exceptions to Derivatives Clearinghouses Should Be Minimal

By Don Curren
Published: June 11 2010 Dow Jones Newswires

U.S. financial reform legislation now being debated in Washington should ensure as many derivatives transactions as possible are routed through proposed clearing houses, said Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission.

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Lincoln Awaits Fate of Her Derivatives Clampdown

By Cyrus Sanati
Published: June 11 2010 NYT

As a conference committee works on merging the House and Senate versions of the financial regulatory bill, the prospects remain uncertain for sections that would restrict derivatives trading.

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Frank: Tough Version of 'Volcker Rule' Will be in Bank Bill

By Ronald Orol
Published: June 11 2010 MarketWatch

Senators and House legislators on Thursday launched into a weeks-long effort to reconcile differences in two versions of sweeping bank-reform legislation approved in each chamber, with a key member arguing that when the package is completed it will include a tough "Volcker rule," barring big banks from making speculative proprietary derivatives and stock investments for their own accounts.

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US Senate Lawmaker Vows to Fight Any Changes to Derivatives Plan

By Brian Scheid
Published: June 11 2010 Platts

US Senator Blanche Lincoln, Democrat-Arkansas, vowed Thursday to battle any effort to weaken or remove her contentious derivatives provisions from the sweeping financial reform legislation Democrats are hopeful President Obama can sign by July 4.

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Fed's Hoenig Backs Spin Off of Derivatives Trading

By Edward Krudy
Published: June 11 2010 Reuters

Kansas City Fed President Thomas Hoenig said he supports a proposal to spin off banks' derivatives trading desks advocated by Senator Blanche Lincoln.

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House GOP, New Dems Seek Exemptions For Swap Users In Financial Bill

By Sarah Lynch and Fawn Johnson
Published: June 10 2010 Dow Jones Newswires

U.S. House Republicans and House "New Democrats" plan to push for the adoption of language from the House financial bill which allows more corporations to avoid new regulatory requirements for over-the-counter derivatives trading, House aides say.

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Volcker Upbeat on 'Reasonable' Reform Bill

By Jonathan Spicer
Published: June 10 2010 Reuters

There is a good chance that a sweeping U.S. financial reform bill will be passed in a "reasonable form," White House economic adviser Paul Volcker said on Wednesday, adding the bill could provide a basis for international coordination on coherent legislation.

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Merkel and Sarkozy's Bid for Haste Risks Derivatives Strife

By Stephen Fidler
Published: June 10 2010 WSJ

How the world has changed. As they made clear in their letter this week urging the European Commission to speed up action to regulate financial markets, Angela Merkel and Nicolas Sarkozy have views about naked credit-default swaps and short-selling of stocks.

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Banks Pressured as Congress Reform Panel Debuts

By Kevin Drawbaugh
Published: June 10 2010 Reuters

Banks faced intensified regulatory reform pressures as a special U.S. congressional panel prepared to hold its first public meeting on Thursday, forcing Democratic leaders to balance on a knife's edge

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Lincoln Victory Gives Impetus to Her Derivatives Measures

By Ronald D. Orol
Published: June 9 2010 MarketWatch

Senator Blanche Lincoln's primary victory on Tuesday is not likely to provide enough momentum for lawmakers to save a tough derivatives-divestiture provision she introduced within sweeping bank regulation legislation.

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Dodd Calls Swap Desk Spin-Off 'A Strong Provision'

By Charles Abbott
Published: June 9 2010 Reuters

Senate Banking Committee Chairman Christopher Dodd said on Wednesday that a proposal to require banks to spin off swaps desks, put forth by Senator Blanche Lincoln, is "a strong provision in the bill."

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US Senator's Plan Key to Reducing Derivatives Risk-Stiglitz

By Karen Brettell
Published: June 9 2010 Reuters

U.S. Senator Blanche Lincoln's proposal to require banks to spin off their derivatives units is key to reducing risk in the $450 trillion, privately traded derivatives markets, Nobel Prize winning economist Joseph Stiglitz said on Wednesday.

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Dodd, Frank Set Plan to Finish Work on Financial Bill

By Michael Crittenden and Victoria McGrane
Published: June 8 2010 WSJ

U.S. lawmakers finalizing wide-ranging changes to U.S. financial markets will meet in a series of day-long sessions beginning Thursday and running through the end of the month as they try to finish work on the landmark legislation.

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International Regulators Cool to U.S. Swaps Spinoff Idea

By Jonathan Spicer
Published: June 8 2010 Reuters

Two top securities regulators at an international conference in Montreal on Tuesday snubbed a U.S. proposal that would force banks to spin off swaps trading operations, arguing it could spark a rush to more lax regions that are not interested in following suit.

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Volcker: Don't Exempt Banks' Fund Ties from Rule

By Kevin Drawbaugh
Published: June 8 2010 Reuters

White House economic adviser Paul Volcker firmly opposes exempting banks from his proposal to ban them from hedge funds or private equity funds when they make only small investments, according to a letter obtained by Reuters on Tuesday.

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A View From the Financial Overhaul Conference

By Damian Paletta
Published: June 8 2010 WSJ

As top Democrats met Tuesday to plan their end-game on new financial regulations, Sen. Judd Gregg (R., N.H.) warned in an interview that many parts of the bill could have a devastating impact on the economy if they aren't fixed.

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The Leading Men of Regulation

By Damian Paletta
Published: June 8 2010 WSJ

Three men burnished and tarnished by the financial crisis are expected to wield disproportionate influence over Congress's final push to write a new law for financial regulations.

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EU Commission to Issue Draft Rules On Derivatives Clearing

By Adam Bradbery
Published: June 8 2010 WSJ

The European Commission plans to issue draft rules this week governing the operation of clearing houses and trade data warehouses for over-the-counter derivatives, Patrick Pearson, head of the financial markets infrastructure unit at the Commission, said Tuesday.

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Derivatives Market May Be Reshaped Even Without Swap-Desk Rule

By Phil Mattingly
Published: June 8 2010 Bloomberg

Debate in the U.S. Congress over whether to restrict swaps-trading by commercial banks has taken the spotlight away from other proposed derivatives rules that may soon be approved.

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Why are Swaps in Focus for Financial Reform Bill?

Published: June 7 2010 Reuters

The role of banks in the $615-trillion over-the-counter derivatives markets is a central point of contention as U.S. lawmakers work to finalize sweeping financial reforms in the wake of the global financial crisis.

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New Financial Landscape Emerges Ahead U.S. Reforms

By Kim Dixon and Elinor Comlay
Published: June 7 2010 Reuters

The first glimmers are emerging of a new financial landscape of lower profits and reduced risks, even before the U.S. Congress completes a major overhaul of financial regulation.

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U.S. Lawmakers to Finalize New Rules for Swaps

By Charles Abbott and Roberta Rampton
Published: June 7 2010 Reuters

The U.S. House and Senate have each passed legislation to regulate the $615 trillion market in over-the-counter derivatives for the first time.

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The Fates and Faces of the Affected

Published: June 7 2010 WSJ

Auto dealers, attorneys general and derivatives traders are among those sitting anxiously as Congress enters the final stretch of its financial-regulation revamp. The two bills approved by lawmakers contain numerous differences, and negotiations to hammer out a compromise will begin in earnest this week. All told, they'll represent the biggest change to the U.S.'s system of financial oversight in 80 years.

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Lawmakers May Sacrifice Swaps Plan for Volcker Rule in Talks

By Alison Vekshin
Published: June 7 2010 BusinessWeek

Congressional negotiators meeting to resolve differences over bank-regulation legislation are likely to retain a proprietary-trading ban and higher capital standards while stripping a measure that would bar commercial lenders from running swaps desks, said lawmakers and analysts.

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Final Derivatives Reform Could Pass this Month

Published: June 7 2010 Futures Magazine

A new regulatory landscape for the country's derivatives markets could be law by the end of June, according to top legislators.

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It’s Not Just About “Black Swan” Events

By Barney Reynolds
Published: June 7 2010 FT

Trading in "over-the-counter" (OTC), or bilaterally-negotiated, derivatives is key to the businesses of many corporates.

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Digging Into Derivatives

By Suzanne McGee
Published: June 7 2010 WSJ

While Congress debates possible new rules for derivatives as part of the financial-regulation overhaul, the Securities and Exchange Commission is investigating just how those products are being used in mutual funds and exchange-traded funds.

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Congress Pressed for Reform Bill Deal

By Sewell Chan
Published: June 6 2010 NYT

As Congressional negotiators begin this week to merge two bills overhauling the financial system, the White House wants them to reach an agreement before President Obama leaves for a Group of 20 meeting this month in Toronto.

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Financial Overhaul's Likely Impact on Wall Street

By Daniel Wagner
Published: June 6 2010 AP

When House-Senate negotiators start crafting a final financial overhaul bill this week, their decisions will affect how big banks do business - and will likely cut into their profits. Here are a few of the issues:

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FOA: Details of New Infrastructure Derivatives Rules Expected Shortly

By Lianna Brinded
Published: June 4 2010 Risk

European regulators are expected to release details of a new European Market Infrastructure Regulation (EMIR) shortly that will set out who will licence Central Clearing Parties (CCP) and what derivatives instruments will have to go through CCP clearing, according to Futures and Options Association (FOA) chief executive Anthony Belchambers.

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Financial Reg Debate to be Public: Frank

By David Morgan and Rachelle Younglai
Published: June 3 2010 Reuters

The lawmaker heading the push for a final version of a U.S. financial overhaul countered concerns that negotiations would take place behind closed doors and said proposals would be presented and debated publicly.

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CFTC Boss Calls for More Derivatives Information Flow

Publised: June 3 2010 Futures Magazine

Gary Gensler, the chairman of the Commodity Futures Trading Commission, told conference attendees that the industry is not doing enough to provide regulators information about trades.

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CFTC Head Urges Lawmakers to Stand Ground on Swaps

By Jonathan Spicer and Roberta Rampton
Published: June 3 2010 Reuters

A House-Senate panel finalizing financial regulatory reforms this month should implement the Senate version of swaps reporting requirements and the Senate's narrow exemption from clearing rules, the head of the U.S. futures regulator said on Thursday.

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Gensler Backs Stricter Derivatives Rules

By Sarah N. Lynch
Published: June 3 2010 WSJ

Commodity Futures Trading Commission Chairman Gary Gensler voiced support for stricter derivatives provisions in the financial bill passed by the Senate, saying liberal regulatory exemptions like those in the House bill could "come back to haunt us."

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G20 Progress on Financial Regulation

By Huw Jones
Published: June 3 2010 Reuters

Finance ministers from the G20 group of industrial and emerging countries meet in Busan on June 4-5 to review pledges made in 2009 to strengthen regulation and learn lessons from the financial crisis.

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Barney Frank Pitches Reform

By Jay Fitzgerald
Published: June 2 2010 Boston Business Herald

U.S. Rep. Barney Frank yesterday predicted Massachusetts companies won't be sideswiped by a new financial reform bill that he vowed will be debated and approved via public hearings demanded by reform advocates.

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US House, Senate Work on Regulatory Reform Set to Go Public Next Week

By John Shaw
Published: June 2 2010 Market News International

When Congress returns from its Memorial Day recess next week, the central item on the legislative agenda will be the attempt by the House and Senate to craft a compromise financial regulatory reform bill.

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Raising the Right Alarms on Risk

By Matthew Malone
Published: June 2 2010 CNN Money

When the rest of the world was busy buying second homes with no money down, MIT professor Andrew Lo was busy beating the drum over a coming financial crisis. For a while, he was playing to an empty room, but now his prescience makes him a voice of authority as we deal with the meltdown and its aftermath.

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New Derivatives Rules will have 'Far-Reaching Impact', says Greenwich Associates

Published: June 1 2010 Hedgeweek

New derivatives rules in bills now headed into the US Congressional conference committee process, will impact far beyond banks and other derivatives market players, according to a new report from Greenwich Associates.

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Spain Postpones OTC Repository Project

By Jeremy Grant
Published: June 1 2010 FT

Spanish efforts to introduce greater transparency to over-the-counter derivatives markets were delayed by two quarters yesterday after the country's main exchange said it would put back the launch of a trade repository project to later this year.

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