Disjointed OTC reforms 'could destroy Asia derivatives market'

Recent Iosco consultation paper aims to better co-ordinate global regulation

Asifma chief executive Mark Austen says OTC reforms from the West have been expensive for Asia to implement and have the capacity to destroy the region's markets before they start to develop

An organised response to extraterritorial regulation is the aim of a new consultation underway at the International Organization of Securities Commissions (Iosco).

While some post-crisis reforms have been well synchronised – Basel III being one example – others such as over-the-counter derivatives reforms have been disjointed and are moving at different speeds.

Mark Austen, chief executive at the Asia Securities Industry & Financial Markets Association, explains how Asian regulators hope the consultation will create more cohesive global regulation.

The consultation closes on February 23.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here