S.Amdt. 4086

SA 4086. Ms. CANTWELL (for herself and Mrs. Lincoln) submitted an
amendment intended to be proposed to amendment SA 3739 proposed by Mr.
Reid (for Mr. Dodd (for himself and Mrs. Lincoln)) to the bill S. 3217,
to promote the financial stability of the United States by improving
accountability and transparency in the financial system, to end ``too
big to fail'', to protect the American taxpayer by ending bailouts, to
protect consumers from abusive financial services practices, and for
other purposes; which was ordered to lie on the table; as follows:

On page 570, line 21, insert before ``In adopting'' the
following: ``Except as provided in paragraphs (3) and (10),
any swap that is required to be cleared is unlawful unless
the swap is cleared.''.
On page 705, line 19, insert before the period the
following: ``unless there is a knowing failure by a party to
comply with, or reckless disregard for, the terms and
conditions of section 2(f) or regulations of the
Commission''.
On page 705, line 20, strike ``No agreement'' and insert
the following: ``Unless there is a knowing failure by a party
to comply with, or a reckless disregard for, the definition
of the term `swap' under section 1(a) or the requirements of
section 2(h)(1), no agreement''.
On page 708, line 17, strike ``and other prudential
requirements of this Act,''.
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