EU Ministers Reach Accord On Derivatives Reforms

Law360, New York (January 24, 2012, 6:01 PM EST) -- European Union finance ministers hoped to speed the adoption of reforms for the over-the-counter derivatives market by reaching a compromise Tuesday on the authorization of clearing entities that will play a key role in the regulation.

The draft regulation calls for the clearing of contracts for those complex financial instruments through central counterparties to reduce market risk and the reporting of all derivative contracts to central data centers to improve transparency.

Adjusting its position in negotiations with the European Parliament, the Economic and Financial Affairs Council...
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