WASHINGTON — The Senate Agriculture Committee has voted 13 to 8, mostly along party lines, to approve a bill to regulate over-the-counter derivatives. The bill would impose a fiduciary duty on dealers who pitch, advise or enter into swaps with localities, endowment funds, or pension funds.
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Sen. Charles Grassley, R-Iowa, was the only Republican who voted for the legislation, which may be added in some form to the massive financial regulatory reform bill pending before the full Senate.
