Aussie OTC derivatives proposals draw flak
The country's regulator is introducing mandatory reporting and clearing in stages. But fund managers would be better able to implement the rules if they were introduced at the same time, observers argue.
As Australia’s regulator mulls how to divvy up responsibilities for the reporting of over-the-counter derivative transactions, market participants have warned that current proposals could be unworkable.
The main issues appear to be that some feel there is too great a reporting burden and that reporting and clearing obligations should be introduced together rather than in stages.
A one-month consultation process on proposed rules covering the reporting of derivatives transactions…
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