Today, the House Agriculture Committee held a hearing to assess the progress of global derivatives reforms since the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law five years ago. Dodd-Frank imposed sweeping new regulations over the financial industry, including the regulation of swaps under Title VII, which had previously not been regulated in the U.S.
Oversight of the Swaps and Futures Markets: Recent Events and Impending Regulatory Reforms
July 25, 2012 - The House Agriculture Committee held a public hearing to examine the collapse of Peregrine Financial Group, Inc., the LIBOR manipulation, and receive an update on MF Global and Dodd-Frank implementation. PFGBest filed for bankruptcy shortly after regulators froze their operations through emergency enforcement actions. More than $200 million in customer funds are missing.