The House Agriculture Committee this week continued its review of the Treasury Department's legislative proposals regulating the over-the-counter (OTC) market for derivatives. Chairman
"I appreciate Chairman Gensler and Chairman Schapiro appearing before the Committee today to discuss their collaboration with the Treasury Department on these proposals," said Committee Chairman Collin C. Peterson of
"I congratulate Chairman Peterson for having the two people most responsible for implementing any kind of regulation over the OTC derivatives market in front of the Agriculture Committee so early in the public policy process," said Ranking Member Frank D. Lucas of
Chairman Gensler of the CFTC and Chairman Schapiro of the SEC were each appearing before the House Agriculture Committee for the first time. The agencies held joint public hearings earlier this month in an effort to coordinate oversight on similar financial
products including OTC derivatives.
Last Thursday, the Committee heard from industry stakeholders regarding Treasury's OTC proposals, with testimony from witnesses representing exchanges, clearinghouse, and end users. Read the press release from the Sept. 17 hearing.
Read the opening statements of all witnesses.
A full transcript of the hearing will be posted on the Committee Web site at a later date.