Foreign derivatives trading would be exempt from U.S. oversight under a bill passed by the House. It is uncertain how the Senate will respond. The White House has indicated a veto if the measure gets through Congress. "We applaud the House for passing this important legislation, and for appropriately recognizing the importance of how derivatives regulations are applied extraterritorially," said SIFMA President Ken Bentsen. Read the full statement from SIFMA.
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