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 Deal Reached to Rein In Overseas Trading

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Deal Reached to Rein In Overseas Trading Vide
PostSubject: Deal Reached to Rein In Overseas Trading   Deal Reached to Rein In Overseas Trading Icon_minitimeThu Jul 11, 2013 12:09 am
Regulators in Washington have agreed in principle on a plan to rein in risky trading by banks overseas, according to people briefed on the matter, a truce that follows a messy split in the Commodity Futures Trading Commission.

Deal Reached to Rein In Overseas Trading Dbpix-regs-tmagArticle

The potential deal, subject to final approval by the agency, would be reached with only hours to spare before a deadline on Friday. The commission had established the deadline when it set out to decide how to regulate trading by American banks in London and beyond — a major factor in the 2008 financial crisis.

Until now, the trading commission seemed destined to miss the date. Some officials at the agency, which oversees trillions of dollars in Wall Street activity, had warned that a compromise was proving elusive as tension mounted.

http://dealbook.nytimes.com/2013/07/10/deal-reached-to-rein-in-overseas-trading/
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