Derivatives safe harbours under siege

gavelandscales

A proposed amendment to financial regulatory reform going through the US Congress is the latest shot in an attack on the protections given to derivatives market participants under the bankruptcy code.

The amendment, sponsored by Democratic senator Bill Nelson, would strip away safe harbours for derivatives market participants - although sources believe the bill is unlikely to be incorporated into the final reform bill.

For derivatives and repurchase agreements, safe harbours provide an exemption

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