Frank Sees Significant Expansion of Derivatives Regulation
By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter.
House Financial Services Committee Chairman Barney Frank, D-Mass., said Congress will be “significantly expanding” the regulation of derivatives, an area of the financial services industry that saw explosive growth over the past decade.
“Where we have instruments, activities, entities that are an important means to gathering the funds that our private sector economy needs to do productive activity, we need to protect that. We need to make sure it’s done with integrity,” Frank told a joint hearing of the House Financial Services Committee and the House Agriculture Committee on July 10.
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