A TABB Group Commentary. Download free here.
Does the UK have a soft spot for OTC derivatives or do they just have a better grasp of reality than the rest of the globe? On 15th December 2009, the UK Financial Services Authority (FSA) and HM Treasury published a joint response to the “EU Consultation Document: Possible initiatives to enhance the resilience of OTC derivatives markets”. In it, they outline their views on proposed changes to the oversight of OTC derivatives in Europe. Although supportive of broad market reform, the UK authorities appear to be taking a softer line than either US or EU lawmakers on several major issues.