Because of the global nature of many derivatives transactions, regulators recognised the need to develop a coordinated, harmonious regulatory framework. While the G20 nations demonstrated a remarkable level of coordination in developing this framework, the actual implementation of OTC derivatives regulation has not achieved the same level of harmonisation. Chris Bender, director of regulatory advisory at Chatham Financial, looks at the progress and remaining obstacles towards achieving a cohesive harmonious cross-border OTC derivatives regulatory framework.
The OTC derivatives harmonisation headache
September 29, 2016