Risk USA: Cross-border conflicts could leave firms unable to comply
Hedge fund CQS warns US persons definition will make compliance more difficult - or even impossible
Derivatives users will end up in breach of new post-crisis market reforms because of extraterritorial conflicts between regulators, buy-side firms warned at the Risk USA conference in New York earlier today - with one of the problems being proposed guidance on the cross-border application of the Commodity Futures Trading Commission's rules (CFTC).
"It is extremely likely you are going to get
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