For the financial regulatory reform of the United States, Dodd-Frank Wall Street Reform and Consumer Protection Act was legislated in July, 2010, and OTC derivatives would face tougher regulation. First, swaps and security-based swaps like CDS shall be submitted for clearing to a derivatives clearing organization, if CFTC or SEC determines that these are required to be cleared and the clearing house accepts it for clearing. Second, no federal assistance may be provided to any swaps entity with respect to any swap or security-based swap. Third, in connection with the listing of contracts or swaps in excluded commodities that are based upon the occurrence, extent of an occurrence, or contingency, CFTC may determine that such contracts are contrary to the public interest. Fourth, CFTC and SEC are supposed to cooperate with each other in the approval process of novel derivative products. These regulatory change reflects the fact that the suffering of american people was so severe that they would not endure any longer a harm the investment with such OTC derivative may cause to national economy.