Publications

July 21, 2010

Congress Enacts OTC Derivatives Reform

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On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”). The Act is comprehensive in scope, providing for significant changes to the structure of federal financial regulation and new substantive requirements that apply to a broad range of market participants, including public companies that are not financial institutions. Title VII of the Act, known as the Wall Street Transparency and Accountability Act of 2010, introduces significant direct regulation of the market for OTC derivatives and the market participants that use them.