On Tuesday, August 11th, the Obama Administration delivered draft legislation to Capitol Hill entitled the “Over-the-Counter Derivatives Markets Act of 2009”. This draft legislation proposes wide ranging and detailed regulation of the over-the-counter derivatives markets and would make significant changes to the Commodity Exchange Act and the Securities Exchange Act of 1934. Attached is an alert memorandum that highlights these changes in addition to other important provisions in the draft legislation.
Please feel free to contact any of your regular contacts at the firm or any of our partners and counsel listed under Derivatives if you have any questions.
