Body’s tenth thematic review calls for more work on OTC derivative reforms
The Financial Stability Board (FSB), the
international body tasked with coordinating the work of
national financial authorities, has said on Wednesday that
widespread legal and regulatory barriers remain in reporting
derivatives transaction information.
In its thematic review on the reporting of
over-the-counter (OTC) derivatives transactions to trade
repositories - the tenth review conducted - the FSB has said
that while comprehensive reporting is in place in the majority
of its member jurisdictions, a number of locations have lagged
in their preparations.
The FSB has called for those in the latter
camp to implement appropriate reporting requirements
"promptly," with members agreeing to address the outstanding
issues by June 2018, said the body.
"Whilst good progress has been made in
implementing these requirements, further work needs to be
undertaken to ensure that the data collected by trade
repositories can be effectively used by regulators," said the
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