The House of Representatives passed a bill to strengthen the ban against insider trading.
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The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
House Financial Services Committee Chair Maxine Waters and Senate Banking Committee Ranking Member Sherrod Brown expressed their "strong opposition" to "weakening" initial margin requirements for swaps between banks and their affiliates.
The U.S. House Agriculture Subcommittee on Commodity Exchanges, Energy, and Credit considered testimony on international developments that could affect the U.S. derivatives markets.
Seventeen House Democrats urged prudential regulators to ease initial margin requirements for inter-affiliate swap transactions by harmonizing with the CFTC and other major G20 regulators.