Financial Regulatory Forum

U.S. lawmaker unveils financial firm break-up plan

U.S. Rep. Paul Kanjorski, chairman of the House Financial Services Subcommittee on Capital Markets, speaks at the Reuters Financial Regulation Summit  in Washington, April 27, 2009. REUTERS/Mike Theiler WASHINGTON, Nov 18 (Reuters) – U.S. Representative Paul Kanjorski on Wednesday released a summary of a proposal to give regulators power to break up financial firms that pose a risk to economic stability.

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Obama administration praises early Senate financial bill

U.S. President Barack Obama (R) attends a fundraiser for U.S. Senator Chris Dodd (D-CT) in Stamford, Connecticut, October 23, 2009.    By Karey Wutkowski
WASHINGTON, Nov 3 (Reuters) – The chairman of the Senate Banking Committee is poised to release a draft bill on financial regulatory reform that meets many of President Barack Obama’s core goals, but it is unclear if it will gain any Republican support, an administration official said on Tuesday.

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Resolution authority bill hits speed bump in Congress

U.S. Representative Barney Frank (D-MA), Chairman of the House Financial Services Committee, listens to a reporter's question during the Reuters Global Financial Regulation Summit in Washington, April 28, 2009.  REUTERS/Jonathan Ernst (UNITED STATES POLITICS BUSINESS HEADSHOT)   By Kevin Drawbaugh and Karey Wutkowski
   WASHINGTON, Nov 3 (Reuters) – Congressional Democrats need more time to debate the funding for an Obama administration “resolution authority” bill for dealing with troubled financial firms, likely pushing committee consideration of the measure into next week, said lobbyists and a House aide on Tuesday.

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ANALYSIS-US, EU urged to find common ground on systemic risk

By Huw Jones and Rachelle Younglai
LONDON/WASHINGTON, Oct 30 (Reuters) – The United States and Europe are moving at different speeds down possibly divergent paths toward dealing with troubled multinational financial giants, despite promises of transatlantic coordination.

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Offshore investment funds included in U.S. Congress registration bill

U.S. Rep. Paul Kanjorski (D-PA), chairman of the House Financial Services Subcommittee on Capital Markets, briefs reporters on the challenges and opportunities of reforming the U.S. financial markets, at the Reuters Financial Regulation Summit  in Washington, April 27, 2009.   REUTERS/Mike Theiler   (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh and Rachelle Younglai
WASHINGTON, Oct 27 (Reuters) – Offshore funds would have to register with U.S. regulators under an amendment added to a bill mandating more oversight of private capital pools under debate on Tuesday in a U.S. congressional committee.

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U.S. House panel passes derivatives overhaul in big step for Obama

By Kevin Drawbaugh and Charles Abbott

WASHINGTON, Oct 15 (Reuters) – The Obama administration scored its first financial regulation reform victory in months on Thursday when a U.S. congressional committee approved new regulations for over-the-counter derivatives.

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US House panel approves new derivatives rules

WASHINGTON, Oct 15 (Reuters) – New rules for the largely unpoliced, $450-trillion over-the-counter derivatives market were approved by a key U.S. congressional committee on Thursday in a win for the Obama administration.

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COLUMN – OTC derivatives modernisation deserves support: John Kemp

U.S. Representative Barney Frank (D-MA), Chairman of the House Financial Services Committee, listens to a reporter's question during the Reuters Global Financial Regulation Summit in Washington, April 28, 2009.  REUTERS/Jonathan Ernst (UNITED STATES POLITICS BUSINESS HEADSHOT)  — John Kemp is a Reuters columnist. The views expressed are his own –

By John Kemp
LONDON, Oct 9 (Reuters) – Prominent banks and some business groups have warned policymakers their efforts to force standardised over-the-counter (OTC) derivatives transactions onto futures exchanges and into the clearing system will drive trading offshore and raise the cost of genuine risk-hedging for non-financial firms.
But scaremongering by the finance industry’s well-paid lobbyists about “unintended consequences” should not deter legislators from pressing ahead with a worthwhile reform.

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U.S. firms that hedge risk win reprieve on derivatives rules

By Charles Abbott and Rachelle Younglai
WASHINGTON, Oct 7 (Reuters) – Congress’ chief architect on financial regulation said on Wednesday companies that use derivatives to hedge their risk would not be forced to comply with all the new rules for the $450 trillion private swaps market.
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Lift seen for Obama financial reform on Fed shift

Federal Reserve Chairman Ben Bernanke testifies before the House Financial Services Committee on financial regulatory reform on Capitol Hill in Washington October 1, 2009. REUTERS/Richard Clement (UNITED STATES BUSINESS POLITICS) By Kevin Drawbaugh
WASHINGTON, Oct 1 (Reuters) – The Obama administration’s plan to form a “systemic risk” regulator for the economy looked more likely to win congressional approval after lawmakers noted a change in tone by the Federal Reserve on Thursday.

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