A regulated new year
Regulators are widely expected to increase their oversight of the financial sector in the coming year, with derivatives likely to come under particular scrutiny. In the latest in the current series of Class Notes articles, Charles Smithson and Steve Allen review what has been proposed and suggest the changes that may occur
The credit crisis that initially surfaced in 2007 in the form of writedowns on complex structured credit products linked to subprime mortgages has elicited calls for more regulation. Market practitioners seem to accept this inevitability. The latest report from the Counterparty Risk Management Policy Group III (CRMPG III) in August acknowledged that the "case for devoting greater resources to the
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