Derivatives Dealers Act of 1994

Summary

TABLE OF CONTENTS: Title I: Derivatives Dealers Title II: Broker-Dealer Oversight Reforms Derivatives Dealers Act of 1994 - Amends the Securities Exchange Act of 1934 (the Act) to define "derivatives dealer," "material associated person," and "person associated with a derivatives dealer" so as to include derivatives dealers affiliated with securities and insurance firms. Title I: Derivatives Dealers - Sets forth: (1) registration and notice requirements for derivatives broker/dealers and material associated persons of such broker/dealers; (2) Securities and Exchange Commission (SEC) rulemaking authority over derivatives dealers; and (3) membership requirements in a registered securities association for derivatives dealers. Title II: Broker-Dealer Oversight Reforms - Authorizes national securities exchanges and registered securities associations to prescribe internal rules and enforcement guidelines for members engaged in derivatives transactions and for material associated persons. Requires SEC financial responsibility rules to include maintenance of sufficient capital levels taking into account selected activities of any registered derivatives dealer that is a material associated person of a broker or dealer. Includes within SEC risk assessment guidelines the derivatives transactions of government and municipal securities broker/dealers, and of registered broker/dealers.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 July 1994

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• Introduced in House (PDF)

  Introduced in House · EN · 13 July 1994

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• Introduced in House

  summary · EN · 13 July 1994

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