Thomas Huertas has spoken on responsibility and regulation. He spoke of how derivatives and securitisation markets work and the flaws in the markets the crisis exposed. He explained why derivatives must be centrally cleared or the basis of netting changed. He looked at how regulation had helped the securitisation markets to grow and how it had given investors confidence in credit ratings to the detriment of doing their own due diligence. He explained why regulation is addressing investment bank resolution and macro-prudential regulation but also why investors must take responsibility for their investment decisions. (Source: Thomas Huertas speech on responsibility and regulation)