Wednesday, March 25, 2009

Sources: Extensive regulatory overhaul planned

Sent from Express News
WASHINGTON - The Obama administration is proposing an extensive overhaul of financial regulations to increase oversight of such exotic instruments as credit default swaps that have been blamed for contributing to the worst financial crisis to hit the country in seven decades.

Officials said Wednesday that the administration will seek to regulate the market for credit default swaps and other types of derivatives and require hedge funds to register with the Securities and Exchange Commission.
By MARTIN CRUTSINGER AP Economics Writer

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