FSA: facing up to cross-jurisdiction conflicts

Juggling across jurisdictions

David Lawton

In an ideal world, national rules on over-the-counter clearing, trading and reporting would neatly interlock, allowing dealers and central counterparties (CCPs) to compete in different jurisdictions under more or less the same terms. This is not an ideal world. As different countries move at different speeds, their rules also vary – and it is too late to avoid potential conflicts, says David Lawton, head of market infrastructure and policy at the UK’s Financial Services Authority in London.


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