This article provides a good overview of OTC derivative market regulation and the views of various industryparticipants. I like how I’m quoted here – gives good insight into my views on the subject:
…however, most in the industry feel more regulation is pretty much a given. “Regulation of the OTC derivatives market is inevitable – like heat in the summer, it’s coming,” says Kevin McPartland, senior analyst at financial markets research and advisory firm, TABB Group. “OTC derivative markets need a reduction in systemic risk and increased transparency; unfortunately, industry initiatives to improve both have proven not to be enough.”
Definitely worth a read. The full article here.