Senator Blanche Lincoln [D-AR] formally released her much discussed derivatives reform bill. The legislation, "The Wall Street Transparency & Accountability Act of 2010," if enacted would require all derivatives trades by and from financial companies to be conducted on public exchanges. The bill also proposed to force commercial banks to spin off their derivatives trading arms. The language of this bill is intended to replace the derivatives reform provisions currently in Sen. Dodd's Restoring American Financial Stability Act of 2010 (S. 3217).
The full text of the Wall Street Transparency & Accountability Act of 2010 is available at: http://ag.senate.gov/site/ComLeg/Wall%20Street%20Transparency%20and%20Accountability%20Act.pdf
A summary of the bill is available at: http://ag.senate.gov/site/ComLeg/One%20Page%20Summary.pdf