Key Democrats move closer on derivatives regulations

07/30/2009 | Wall Street Journal, The

In their first unified effort, Rep. Barney Frank, chairman of the House Financial Services Committee, and Rep. Collin Peterson, head of the House Agriculture Committee, are set to announce their broad agreement on regulating the derivatives market. One measure that is drawing fire from Wall Street is a proposal to ban speculators in some trades. How regulatory authority will be divided between the Commodity Futures Trading Commission and the Securities and Exchange Commission continues to be debated.

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