Fixing swaps privacy clash needs time – Canadian regulator
Countries need to change privacy laws in order to fix clash with swap reporting rules – and that will take time, conference hears
Countries must be given time to change privacy laws that clash with over-the-counter derivatives reporting rules, according to Marc Stephens, an analyst responsible for derivatives oversight at Québec's Autorité des Marchés Financiers.
Dealers have told Risk they are not complying fully with European and US derivatives reporting rules in cases where a counterparty is subject to privacy laws that prevent its identity being revealed to third-country regulators. In these cases, banks say they are
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