House Passes Financial Regulatory Reform Bill
Dec. 11, 2009
FEI Summary

On Dec. 11, 2009, the U.S. House of Representatives passed by a 223-202 vote, its version of a comprehensive financial regulatory reform bill, entitled H.R. 4173, the Wall Street Reform and Consumer Protection Act. Separately, the Senate still has to vote on its version of the bill. See the House Financial Services Committee press release issued upon passage of the bill in the House, and the response in the Minority press release.

Major Sections of Bill
Major sections of H.R. 4173 include:

·         Financial Stability Improvement Act

·         Corporate and Financial Institution Compensation Fairness Act

·         Over-the-Counter Derivatives Markets Act

·         Consumer Financial Protection Agency Act

·         Private Fund Investment Advisers Registration Act

·         Accountability and Transparency in Rating Agencies Act

·         Investor Protection Act.

Additionally, H.R. 4173 creates a Federal Insurance Office.

Further information can be found in:

Bill Summary (2 pages) - House Financial Services Committee

Bill Highlights (3 pages) - House Financial Services Committee

Section-by-Section Summaries - House Financial Services Committee

Additional Summaries

FEI Summary: Congress Seeks To Reform Credit Rating Agencies (Dec. 16, 2009)

FEI Summary: Favorable Progress Made On Derivatives Reform  (Dec. 15, 2009)

FEI summary: Accounting Standards and Audit-Related Provisions of H.R. 4173. (Dec. 11, 2009)

Check back to FEI's Web site, www.financialexecutives.org, for additional updates on financial regulatory reform.

Updated Dec. 15, 2009