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News Summary: SEC proposes rules for derivatives
By The Associated Press
AP /
October 17, 2012
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MINIMUM CAPITAL: U.S. regulators proposed setting minimum capital levels that banks and other firms that trade derivatives must hold as a cushion against risk.
PUBLIC INPUT: The Securities and Exchange Commission voted to seek public comment on the proposed rules, which also would set requirements for collateral and keeping customer funds separate from a firm's.
OVERSEEING DERIVATIVES: The financial overhaul law enacted in 2010 called for new oversight of derivatives, the complex investments blamed for hastening the financial crisis. The law required the SEC to write the rules.
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