Legal patchwork inhibits progress on derivatives counterparty disclosure
New regulatory fixes only a partial solution as industry anticipates jurisdiction shopping by secretive clients
Global regulators are stepping up their drive for transparency around derivatives counterparty risk. The launch last week of the Depository Trust & Clearing Corporation's (DTCC) automated portal that gives supervisors access to credit default swap (CDS) data is the latest sign of progress.
However, industry experts say complex legal issues still need to be tackled by banks, supervisors and trade repositories over the next 18 months if transparency is to be achieved - a goal set by the Group of
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