3.0.0 3652 2022-02-03T05:08:52Z 2022-02-03T05:08:52Z Senate S S 2008-09-29 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2008-09-29T17:16:53Z 2008-09-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2008-09-29 Introduced in Senate IntroReferral 10000 9 Library of Congress C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA N L000304 Sen. Lieberman, Joseph I. [ID-CT] JOSEPH LIEBERMAN ID CT I. 2008-09-29 True N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2008-09-30 False S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2008-11-17 False Finance and Financial Sector Bank fraud Business ethics Commerce Commodity exchanges Conflict of interests Congress Congressional investigations Congressional joint committees Congressional reorganization Crime and Law Enforcement Derivative securities Economic conditions Economics and Public Finance Executive reorganization Federal advisory bodies Financial services Fines (Penalties) Fraud Futures trading Government Operations and Politics Government ethics Governmental investigations Housing and Community Development Inspectors general Insurance companies Law Mortgage banks Mortgages Secondary mortgage market Securities regulation Stock exchanges Finance and Financial Sector 00 2008-09-29 Introduced in Senate 2009-01-08T16:13:57Z Financial Market Investigation, Oversight, and Reform Act of 2008 - Establishes the Commission on Financial Regulatory Reform to review the nation's existing financial regulatory structure and its contribution to the stability or instability of financial markets.

Requires the Commission to review: (1) bank holding companies, financial holding companies, commercial banks, investment banks, thrifts, credit unions, and industrial loan companies; (2) payment and settlement systems; (3) hedge funds, private equity funds, and markets for alternative investments; (4) special purpose vehicles and off-balance sheet financing for financial companies; (5) securitization of mortgages and other assets; (6) exchange-based, electronic, and over-the-counter markets for financial derivative products; (7) the mortgage finance industry, including mortgage brokers and mortgage lending institutions; (8) equity markets, including short-selling practices, and commodity futures markets; and (8) the insurance industry and its role in the financial markets.

Requires the Commission to report to the President and Congress on its findings and recommendations for corrective measures.

Establishes a multidisciplinary Joint Select Committee on Financial Market Oversight Reform and Investigations to investigate the causes of the financial turmoil and propose corrective actions to the appropriate committees of jurisdiction.

Establishes the Office of the Inspector General for Financial Markets Oversight to: (1) conduct, supervise, and coordinate investigations into whether ethics violations or conflicts of interest between regulators and their regulated entities or markets may have affected agency decision-making between January 2002 and August 2008; and (2) use the forum of the President's Council on Integrity and Efficiency and the Executive Council on Integrity and Efficiency to share findings and best practices with regards to ethics, conflicts of interest, oversight, and accountability.

]]> Financial Market Investigation, Oversight, and Reform Act of 2008 Short Titles as Introduced Financial Market Investigation, Oversight, and Reform Act of 2008 Display Title Financial Market Investigation, Oversight, and Reform Act of 2008 Official Title as Introduced A bill to provide for financial market investigation, oversight, and reform. Introduced in Senate 2008-09-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s3652is/xml/BILLS-110s3652is.xml 2008-09-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.