Isda: Inconsistency among regulators worrying
Dodd-Frank's extraterritoriality and supervisory focus on market structure reforms that will not deliver systemic risk reduction are concerns, says Isda chair Stephen O’Connor
The extraterritoriality of some US regulatory initiatives and a lack of focus on global reforms that deliver real systemic risk reduction for the over-the-counter derivatives industry are two major challenges facing financial services firms today, according to Stephen O'Connor, International Swaps and Derivatives Association chair and global head of OTC client clearing at Morgan Stanley.
"With regard to extraterritoriality, there are today large and growing concerns regarding the applicability
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