Canadian regulators respond to energy firms’ concerns on derivatives
Canadian energy traders have welcomed revised rules on over-the-counter derivatives, which seek to address the issue of extraterritoriality, but warn that inconsistencies with the US Dodd-Frank Act will continue to be a challenge.
“We’ve made some progress, but certainly there’s still significantly more progress required,” says a Calgary-based lawyer at a large Canadian energy producer. “Absolutely, the new [rules] have more clarity, [but] we’re looking for more alignment with the Dodd-Frank
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