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On May 13, the U.S. Department of the Treasury (the “Treasury”), in a joint statement with the Commodity Futures Trading Commission (“CFTC”) and the Securities and Exchange Commission (“SEC”), announced its intention to seek legislative changes that could significantly alter the regulatory framework for over-the-counter (“OTC”) derivatives transactions and markets in the United States
Treasury Secretary Timothy Geithner testified to the Committee on Financial Services of the House of Representatives on March 26 outlining proposals to regulate credit default swaps and OTC derivatives
