It's an obscure rule that few people understand, but its backershope it will correct a crucial flaw in a $2.7 trillion market whosecollapse in 2008 froze financial transactions around the world.

There's one snag: the relentless bulldogs at FederatedInvestors Inc.

The family-run investment manager that oversees $367.2 billionin assets has outlasted larger firms like BlackRock Inc. andFidelity Investments in the fight to persuade Congress that theregulation should never take effect. Federated has built asophisticated lobbying operation, bankrolling lawmakers' politicalcampaigns and recruiting state officials to press its case.

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