AIMA has published a note setting out the importance of international coordination on measures relating to OTC derivatives. It sets out examples of potential regulatory conflicts or unnecessary overlap between EMIR and the US Commodity Futures Trading Commission’s derivatives rules in several areas including clearing obligations, reporting obligations, segregation rules, collateral rules and margin requirements. AIMA is concerned about possible market fragmentation resulting from counterparties being unable to comply with the different regimes and calls on international regulators to introduce a “substituted compliance” or “equivalence” regime so counterparties can comply with one regime only. (Source: AIMA Pleads for OTC Derivatives Coordination)
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AIMA pleads for OTC derivatives coordination
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