A last-minute amendment to proposed legislation to regulate over-the-counter derivatives has been cut, Financial Times reports. Last week, Rep. Stephen Lynch (D-Mass.) tacked on a measure that would limit to 20% the size of the stake banks can collectively own in a clearinghouse. The amendment was design to prevent banks from dominating the clearinghouses, but counsel for the Options Clearing Corp. argued that the provision was “purely anti-competitive,” and legal experts said Lynch’s measure was invalid as it conflicted with another amendment.

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