Japan seeks certainty over US and Europe clearing rules – Masamichi Kono interview

So far the European Union and the US have dominated the global debate over the implementation of the central clearing of OTC derivatives. But with key deadlines for both Emir and Dodd-Frank approaching, Masamichi Kono of the Japan Financial Services Agency has serious concerns about the number of outstanding issues

Asia Risk: Does the recent move by the Securities and Exchange Commission (SEC) to take a narrower definition of the "US person" rule than the Commodity Futures Trading Commission (CFTC) reassure you that issues posed by US cross-border rules can be resolved?

Masamichi Kono, vice commissioner for international affairs, Japan Financial Services Agency: That's a difficult question to answer because while, of course, we appreciate the fact that the SEC issued such a proposal, it does not solve the