Financial Services Legislative and Regulatory Update -- June 17‚ 2013

In This Issue:

Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings.

Excerpt from Leading the Past Week -

Once again, the markets and Congress came together to offer an interesting juxtaposition, as earlier in the week it seemed like synthetic CDOs, the instrument likened to Financial Weapons of Mass Destruction, were rumored to be making comeback. Then, on Wednesday the House passed legislation to curb the CFTC’s authority to regulate the swaps market, and while the bill isn’t expected to pass the Senate, it was seen as a strong signal to the CFTC about delaying its cross-border swaps rule, which among other things, will impact how US banks with foreign branches, or international based hedge funds will be regulated when participating in the international swaps market. This vote was seen by some as a backtrack for necessary financial reforms, but interestingly, the week closed with news that the efforts to revive the CDOs had failed, perhaps an indicator that the market has learned from its mistakes that nearly cratered the global economy only a few short years ago.

Please see full issue below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:


Mintz Levin - Public Finance Matters on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.