Skip to main content

Newsroom

January 29, 2015

Democratic push leads to tougher swaps rules for the industry

Democrats at the SEC have scored a victory to strengthen financial reform rules for the small, niche industry that stores information about derivatives, according to two sources familiar with the matter.
On Wednesday, the agency’s five commissioners will vote on rules for security-based swaps, which are mandated by the 2010 Dodd-Frank law. The SEC is charged with regulating less than 5 percent of the swaps market that is derived from stocks or bonds. The Commodity Futures Trading Commission regulates the rest of the market.
***
Groups advocating tight rules for Wall Street applauded Aguilar’s efforts.
“The corruption of the compliance process and of compliance officers directly contributed to the financial crash of 2008,” said Dennis Kelleher, president of Better Markets, which has sent 11 letters to the SEC and other swaps regulators demanding strict compliance rules for Wall Street.
Read the full POLITICO article by Patrick Temple-West here.
In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today