Regulators identify weaknesses in OTC derivatives markets

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The over-the-counter derivatives market was criticised by two senior regulators at the International Swaps and Derivatives Association's annual general meeting in Beijing last month, with both identifying weaknesses they claim contributed to the financial crisis and which still need to be addressed.

Theo Lubke, senior vice-president at the Federal Reserve Bank of New York, identified six main problem areas in the OTC derivatives market. Meanwhile, Liu Mingkang, chairman of the China Banking Regu

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