SEC calls for CDS regulation

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Calls for greater oversight of the credit default swaps (CDS) market have intensified, following the collapse of Lehman Brothers and the bailout of American International Group.

In testimony to the US Senate Banking Committee on September 23, Christopher Cox, chairman of the US Securities and Exchange Commission (SEC), said there were opportunities for manipulation within CDS markets, which he described as "completely lacking in transparency and completely unregulated".

As the buyer of a CDS

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