OTC Derivatives Clearing Summit: SEC, Fed promise reform progress

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Buy-side frustrations with the post-crisis regulatory landscape were aired at Risk's OTC Derivatives Clearing Summit in New York this morning, with speakers from both the Federal Reserve and the Securities and Exchange Commission (SEC) promising greater clarity in the coming months.

In a blunt exchange, one audience member – Louis Thorne, chief operating officer at hedge fund Fortress Investment Group – asked how different jurisdictions would work together to expand the scope of clearing

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