Derivatives Market Reform Act of 1999 - Amends the Securities Exchange Act of 1934 to set forth registration requirements for derivatives dealers and for securities association membership.
Grants the Securities and Exchange Commission (SEC): (1) administrative enforcement powers; and (2) exclusive jurisdiction regarding accounts, agreements, transactions, and markets in derivatives.
Redefines securities to include derivatives.
Authorizes both a registered securities exchange and a national securities exchange to adopt rules governing transactions in derivatives.
Directs the SEC to promulgate capital level requirements that take into account the financial activities of a derivatives dealer who is a material associated person of a broker or dealer (including aggregate leverage, customary sources of capital and funding, and credit risk).
Sets forth risk assessment and recordkeeping requirements governing holding companies and other material associated persons associated with: (1) a government securities broker or dealer; and (2) a municipal securities dealer.
Amends the Investment Company Act of 1940 to require unregistered hedge funds to report to the SEC certain information prepared in accordance with U.S. generally accepted accounting principles (including information for each pooled investment vehicle that is part of an unregistered hedge fund).