US Treasury outlines OTC regulation plan
The Obama Administration has proposed a regulatory framework for all over-the-counter (OTC) derivatives contracts.
In a letter to Senate Majority Leader Harry Reid yesterday, US Treasury Secretary Timothy Geithner laid out a number of amendments to the Commodity Exchange Act (CEA, which regulates commodity futures and options trading), securities laws and other legislation relevant to the regulation of the over-the-counter (OTC) derivatives markets.
He has called for clearing of all standardised OTC derivatives through regulated central counterparties (CPPs) imposing robust margin requirements and other risk
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