Regulators look out for clearing dodges

Out of the clear?

john-walsh

Rules requiring the use of clearing houses in over-the-counter derivatives markets are still being finalised, but regulators are already worried market participants are trying to find a way out. A February 29 report by the technical committee of the International Organization of Securities Commissions (Iosco), repeatedly warns regulators to look out for products designed to be unclearable. The most likely perpetrators – banks, large corporates and some financial end-users – profess their innocen

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