Commissioner Jonathan Hill said he does not believe new rules are needed
commissioner Jonathan Hill has promised this year a
proposed system to tackle the contentious issue of the recovery
and resolution of clearing houses in a bid to reduce the risk
of increased reliance on these firms.
"As central counterparties (CCPs) operate
across borders, it's important that we engage internationally
on this issue. So, I have decided that the sensible way
to proceed is to align our work on this with the work being
taken forward as part of the G20 agenda. We'll table a proposal
for an effective recovery and resolution regime for clearing
houses towards the end of the year." Hill said.
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