Experts Urge More Control Of Complex Securities

Law360 (August 7, 2008, 12:00 AM EDT) -- Experts from some of the top financial institutions in the U.S. are calling for sweeping reform to address the current market crisis —

which they have said is the most severe since the post-war period — suggesting more training for investors and higher industry standards.

In a 160-page report issued Wednesday, the Counterparty Risk Management Policy Group III called for the creation of a clearing corporation that would begin clearing credit default swaps in the fourth quarter of 2008.

The group outlined dozens more recommendations that...
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