On September 22, Senator Jack Reed (D-RI) introduced the Comprehensive Derivatives Regulation Act of 2009, which was referred by the Committee Banking, Housing and Urban Affairs. The Comprehensive Derivatives Regulation Act of 2009 seeks to comprehensively regulate the derivatives market to increase transparency and reduce risks in the financial system. Specifically, the bill would: (i) require standardized credit default swaps and other unregulated derivatives to be cleared through a clearinghouse; (ii) establish robust capital and margin requirements for derivatives dealers and other major market participants; (iii) provide regulators new authority to set position limits and oversee the marketing of products to certain investors; and (iv) provide the Securities and Exchange Commission with jurisdiction over all derivatives that are securities or can be used as synthetic substitutes for securities, provide the Commodities Futures Trading Commission jurisdiction over all other derivatives, and create a fast and efficient process for the United States Court of Appeals for the District of Columbia Circuit to resolve any differences in views between the agencies that might arise.