UK regulator warns of legal risk with credit derivatives


LONDON -- Significant credit defaults could expose flaws in the legal framework of the credit derivatives market, the head of Britain’s principal financial watchdog said in February.

It is possible there could be disputes about a credit event, for instance, or the terms of delivery, said Howard Davies, chairman of the Financial Services Authority (FSA).

He told a bond investors’ conference in London that recent defaults such as those of US energy-trading group Enron, the UK railway track manag

To continue reading...

You need to sign in to use this feature. If you don’t have a 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 indvidual account here: