Piloting policy

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The over-the-counter (OTC) derivatives industry has come in for its share of blame for fostering the development of the individuals, instruments, financial engineering techniques and conditions that lie at the heart of the global financial crisis. Some of this criticism has come in the form of attacks from parties with a vested interest in fanning the flames of discontent. Some of it has been more measured. Barclays' chairman and chief executive for Asia Pacific, Robert Morrice, told delegate