Four House Republicans introduced legislation that would give regulators 18 more months to implement rules governing the derivatives market. Regulators, lawmakers, officials and industry participants have been debating the pace of the regulatory overhaul. Many have voiced concern that the Commodity Futures Trading Commission and the Securities and Exchange Commission have been moving too quickly on implementing rules to meet deadlines mandated by the Dodd-Frank Act. The bill would give regulators more time to consider rule consequences, advocates said. Deputy Treasury Secretary Neal Wolin said Congress and regulatory agencies must continue implementing the Dodd-Frank Act and that the Obama administration will fight any effort to "weaken, slow down or repeal" it.
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