Published: March 27, 2012
Washington – The Coalition for Derivatives End-Users today applauded the U.S. House of Representatives for passing meaningful amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act to protect companies that use derivatives to manage business risk, while more effectively focusing new regulations on the systemic risks the law was intended to address.
“The Coalition for Derivatives End-Users is committed to reforms that enhance the stability of U.S. financial markets, while allowing U.S. companies to invest, grow and create jobs,” said Michael Bopp, Counsel to the Coalition for Derivatives End-Users. “The reforms passed today by the U.S. House of Representatives with strong bipartisan majorities are much-needed refinements to the Dodd-Frank law that focus on the real sources of systemic financial risk and protect mainstream American companies that use derivatives to prudently manage their operations.”
Bopp noted that passage of these reforms sends a strong message, consistent with the intent of Congress when the Dodd-Frank Act was passed nearly two years ago – that companies should not be confronted with a minefield of new regulations when they attempt to use derivatives prudently and in ways that help raise funds and make productive investments. The Coalition is optimistic that the overwhelming, bipartisan support demonstrated today will resonate in the Senate and lead to swift enactment of these commonsense measures.
The reforms welcomed by the Coalition for Derivatives End-Users were included in the following two bills passed by the House today:
The Coalition for Derivatives End-Users includes the following major U.S. business associations: