UK watchdog warns of legal risk in new financial markets
LONDON -- Financial firms must analyse carefully the legal risks associated with innovative and fast-developing financial markets, because companies may be relying on specific legal opinions in areas where there may be limited case law and judges’ rulings may be harder to predict.
The Financial Services Authority (FSA) -- the UK’s chief financial watchdog -- said it had in mind growing sectors such as credit derivatives markets, securitisations, netting and structured capital instruments.
The
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