Iosco, Asifma urge early global co-operation on future rules
Joining forces early on would improve regulatory cohesion between countries, but post-crisis pressure on national rule-makers to legislate poses problems
National supervisors should communicate with peers in other countries early on in their rule-making to prevent the kind of cross-border discrepancies that have plagued derivatives clearing, according to regulatory and industry representatives.
"What we need to do in the future is co-operate much more before we pick up a pen to write the rules. We should agree definitions, scope and timing, because
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