Pension plans question N.Y. Fed's derivatives-oversight group

03/31/2011 | Bloomberg

The Federal Reserve Bank of New York leads a private derivatives-oversight group, which some pension plans say fosters a type of shadow regulation and could weaken rules mandated by the Dodd-Frank Act. "We are concerned about a secondary regulatory process that could undermine the public regulatory process," trade groups wrote in a letter to New York Fed President William Dudley. A "process that is closed to most market participants needs to be examined very closely."

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