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Congressional Research Service
Version 00 · Introduced in House · Jun 16, 1998
Financial Derivatives Supervisory Improvement Act of 1998 - Establishes the Working Group on Financial Derivatives to study and report to the Congress on: (1) the regulation of derivatives markets in which domestic and foreign depository institutions and registered brokers and dealers participate; and (2) any recommendations for modernizing and harmonizing statutes, regulations, and policies. Urges the Group to assign a high priority to continual negotiations to ensure that foreign markets and regulatory bodies establish and maintain regulations comparably prudent to those governing the U.S. markets. Prohibits the Commodity Futures Trading Commission, for a specified time period, without the Secretary of the Treasury's approval, from promulgating or proposing regulations, or issuing any interpretive or policy statements that regulate or restrict activity in certain hybrid instruments and swap agreements. Declares that any such hybrid instruments or swap agreements entered into before such period shall not be subject to the Commodity Exchange Act's restriction of futures contracts or exempted securities.
People & committees
Rep. Leach, James A. [R-IA-1] · R–IA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Committee Hearings Held.
Committee Hearings Held.
Referred to the Subcommittee on Finance and Hazardous Materials, for a period to be subsequently determined by the Chairman.
Referred to the Subcommittee on Risk Management and Specialty Crops.
Referred to House Agriculture
Referred to House Commerce
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Commerce, and Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Banking and Financial Services
Sponsor introductory remarks on measure. (CR E1138-1139)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
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