Mixed Reactions on OK of OTC Swap Bills:Dealer Reps Predict Derivatives’ Demise

The Bond Buyer reports:

The Senate Agriculture Committee’s passage yesterday of a bill to regulate over-the-counter derivatives and impose a fiduciary duty on swap dealers for muni issuers drew polarized reactions yesterday. Dealer representatives warned that it would kill the muni derivatives market while a former regulator applauded the provision and called for lawmakers to go even further.