The Dodd-Frank Wall Street Reform and Consumer Protection Act has been published. But senior Republican politicians have expressed concern over elements of the bill, which has raising concerns about whether the bill has sufficient support to be passed into law.
The Dodd-Frank proposal was agreed on Friday (June 25) after a series of meetings to combine the plans of Congress and the Senate for reforming the country’s financial markets.
As expected, central clearing and exchange trading of instruments that are now traded over-the-counter (OTC) are at the heart of the joint proposal. The Dodd-Frank plan states that derivatives that can be centrally cleared will have to be centrally cleared.
Both the Securities and Exchange Commission and the Commodity Futures...