Dealers opt to break reporting rules in privacy clash

New swap reporting rules allow regulators to track who is doing what – in theory. But some jurisdictions have laws that prevent the disclosure of counterparty identities. Caught in the middle, some dealers are choosing to adhere to privacy laws while breaching regulations. By Fiona Maxwell

privacy-app

If dealers in Europe and the US are to comply with derivatives reporting rules, they need to reveal the identity of their counterparty in each new trade – a requirement that, in some jurisdictions, breaches national laws preventing this information being shared with foreign authorities. While regulators and politicians search for a solution, dealers have an unappetising choice. So, what are they doing?

"We've been masking identities in any jurisdiction we deem as problematic," says a regulatory

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here