Corruption

Who Defines Derivatives?

08/15/2009 • The Business Insider

For all Washington's criticisms of derivatives, it isn't taking a firm stand with its new policy recommendations. The Over-the-Counter Derivatives Markets Act of 2009 was sent to Congress this week. But, as The Project On Government Oversight points out, most of the language is spent divvying up authority between the SEC and the CFTC, not setting limits on the complex financial products themselves by strictly defining them. That could mean watered-down rules