Dealers opt to break reporting rules in privacy clash

No easy solution as European and US reporting rules collide with foreign laws


If dealers in Europe and the US are to comply with derivatives reporting rules, they need to reveal the identity of their counterparty in each new trade – a requirement that, in some jurisdictions, breaches national laws preventing this information being shared with foreign authorities. While regulators and politicians search for a solution, dealers have an unappetising choice. So, what are they doing?

"We've been masking identities in any jurisdiction we deem as problematic," says a regulatory

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