House passes bill regulating OTC derivatives

摘要

Washington-The House of Representatives on December 11 approved a bill that would overhaul government regulation of the financial industry and includes provisions to authorize the Commodity Futures Trading Commission and the Securities and Exchange Commission to regulate over-the-counter derivatives for the first time. The broad-reaching Wall Street Reform and Consumer Protection Act (H.R. 4173) passed by a vote of 223 to 202 after months of negotiations in the wake of the worst financial crisis since the Great Depression.