SIFMA Statement on Agriculture Committee Passage of Key Derivatives Reforms

SIFMA released the following statement from acting president and CEO, Kenneth E. Bentsen, Jr., regarding passage of several pieces of legislation by the House Agriculture Committee which aimed at amending, clarifying or improving Title VII of the Dodd-Frank Act.

"These bills will strike the so-called 'swap push-out provision,' which a number of regulators have said was unnecessary as well as clarify that non-financial end users will be exempt from capital and margin requirements. They will also clarify the treatment of inter-affiliate swaps, address extra-territorial application of derivatives rules abroad and require enhanced cost benefit analysis of all rules promulgated by the CFTC and SEC."

Click hereto view statement in full (links externally to SIFMA website).See also: Information Regarding the Hearing - "Examining Legislative Improvements to Title VII of the Dodd-Frank Act."Related News: "SIFMA Acting President and CEO Testifies before House Agriculture Commitee on Dodd-Frank Title VII" (March 15, 2013).