OTC rift emerges in US and EC


Major differences have emerged between US and European legislative proposals for reform of the over-the-counter derivatives markets, prompting calls for policy-makers to forge a common line on exemptions for corporate end-users and foreign exchange transactions.  On October 15, the US House Committee on Financial Services approved the Over-the-Counter Derivative Markets Act of 2009, while the House Committee on Agriculture passed its own version, known as the Derivatives Markets Transpar