S. 3691 · 110th Congress
Financial Regulation Reform Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
CollinsSponsorNo cosponsors.
Financial Regulation Reform Act of 2008 - Amends the Commodity Exchange Act to: (1) subject credit-default swap trading clearinghouses to regulation by the Commodity Futures Trading Commission (CFTC); and (2) direct the CFTC to set reporting and recordkeeping requirements for positions involving credit-default swaps.
What it does: CRS summary · Introduced in Senate · Nov 19, 2008
Financial Regulation Reform Act of 2008 - Amends the Commodity Exchange Act to: (1) subject credit-default swap trading clearinghouses to regulation by the Commodity Futures Trading Commission (CFTC); and (2) direct the CFTC to set reporting and recordkeeping requirements for positions involving credit-default swaps.
Grants the Federal Reserve Board authority over investment-bank holding companies.
Directs the Securities and Exchange Commission (SEC) to issue final rules to: (1) designate clearinghouses for credit-default swaps; and (2) prohibit fraudulent, deceptive, or manipulative acts or practices in connection with such swaps.
Establishes a temporary Commission on Financial Regulatory Reform to review the financial regulatory structure and propose a comprehensive framework for fundamental reform of financial regulation in the United States.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financial Regulation Reform Act of 2008
Latest action (Nov 19, 2008): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Nov 19, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.