Financial Regulation Reform Act of 2008

Summary

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.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 November 2008

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 November 2008

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• Introduced in Senate

  summary · EN · 19 November 2008

  Open at official source

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