The world's top regulators have called on Carney's FSB to tackle reporting barriers
A body of 12 regulators has pleaded with the Financial
Stability Board’s chairman, Mark Carney, to remove
barriers that prevent certain counterparties from reporting
their over-the-counter derivatives trades.
The letter comes from the OTC Derivatives Regulators Group
(ODRG) and is signed by the chair of the US Securities and
Exchange Commission (SEC), Mary Jo White.
White argues the application of the G20 trade reporting
mandate for OTC derivatives is currently being hampered by the
existence of certain data protection laws, blocking statutes
and state secrecy laws in some jurisdiction.
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