FOA slams single European market plans for commodity derivatives

The ISD and CAD are designed to achieve a single European market for financial services by providing business and consumers with direct access to cross-border financial institutions.

Anthony Belchambers, chief executive of the FOA, said a KPMG report showed that the application of banking-style CAD rules to commodity houses resulted in a shortfall of capital resources against regulatory capital requirement. This impact on commodity houses raises concerns about the fairness of imposing rules d

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