Schapiro Testifies on Regulation of OTC Derivatives Marketplace

SEC Chairman Mary L. Schapiro testified today on Implementation of Titles VII and VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act by the U.S. Securities and Exchange Commission
before the United States House Financial Services Committee.  These provisions primarily relate to the regulation of over-the-counter ("OTC") derivatives markets and the supervision of systemically important payment, clearing, and settlement systems. Title VII of the Act requires the SEC, among other regulators, to conduct a substantial number of rulemakings and studies. Her testimony briefly describes the progress and plans for implementing Titles VII and VIII of the Dodd-Frank Act, with a particular focus on the regulation of the OTC derivatives marketplace.