Sparks fly on regulation during Isda's annual general meeting
Heated debate over financial regulatory reform going through the US Congress was at the forefront of the International Swaps and Derivatives Association’s annual general meeting in San Francisco last month.
In his opening address on April 22, Isda executive vice-chairman Bob Pickel sought to emphasise the amount of work the industry had undertaken to tidy up the derivatives market. “Supervisors today are focused on one key goal: reducing systemic risk. They aim to achieve this goal by making sure an effective regulatory framework is in place for key firms, strengthening counterparty risk management, improving transparency and building a robust operational infrastructure. We completely endorse these
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