Fixing swaps privacy clash needs time – Canadian regulator

CFTC relief expires on June 30, but countries need more time to change laws

cftc-hq
US Commodity Futures Trading Commission

Countries must be given time to change privacy laws that clash with over-the-counter derivatives reporting rules, according to Marc Stephens, an analyst responsible for derivatives oversight at Québec's Autorité des Marchés Financiers. Dealers have told Risk they are not complying fully with European and US derivatives reporting rules in cases where a counterparty is subject to privacy laws that prevent its identity being revealed to third-country regulators. In these cas