WASHINGTON, Oct. 15 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi issued the following statement today after the Financial Services Committee approved legislation to require the comprehensive regulation of the over-the-counter derivatives marketplace. The bill, which was approved by a vote of 43 to 26, represents a key part of a broader effort by Congress and President Obama to modernize America's financial regulatory system in response to last year's financial crisis.
"Today's House Financial Services Committee vote to reform regulation of the over-the-counter derivatives market is a critical step forward in Congress' efforts to pass comprehensive financial regulatory reform. The House Agriculture Committee will now have the opportunity to add its input and expertise to this legislation.
"The House is taking action to restore transparency, accountability, and investor confidence to our financial markets. In July, we passed legislation to give shareholders of public companies a say on executive pay, and this week, the Financial Services Committee continued consideration of a bill to create a Consumer Financial Protection Agency.
"Working with the Chairmen and our Members, we look forward to scheduling a vote by the full House on a comprehensive financial regulatory reform package."
SOURCE Office of the Speaker of the House
Office of the Speaker of the House
