Treasurers highlight unintended consequences of regulation

The move to central clearing of over-the-counter derivatives and the proposed implementation of a financial transaction tax were highlighted as key concerns for corporate treasurers during the Association of Corporate Treasurers (ACT) annual conference in Liverpool last week.

"I have many concerns over a transaction tax. Aside from its cost, the first is that it will be implemented unevenly, leading to inefficiencies in global capital markets and ultimately to a greater concentration of risk and