Senate Ag committee to take OTC derivatives transparency to new levels
New draft legislation on financial regulatory reform will require real-time reporting of derivatives trades to both regulators and the public, according to Blanche Lincoln, chairman of the Senate Committee on Agriculture, Nutrition and Forestry, who is drafting the proposal.
The declaration was made in a letter to four fellow senators on April 13, ahead of the expected introduction of a draft bill as early as today. If included, the reporting requirement would go further than what has been proposed in both the Wall Street Reform and Consumer Protection Act, passed in the House of Representatives on December 11, and a version of the bill introduced by Christopher Dodd, the chairman of the Senate Committee on Banking, Housing and Urban Affairs, on March 15.
"My bill
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