Opalesque Industry Update - The Financial Stability Board (FSB) published a report by the FSB Chairman to the G20 Leaders summarising progress in over-the-counter (OTC) derivatives reforms, together with the sixth of the FSB’s semi-annual comprehensive progress reports on implementation of OTC derivatives market reforms.|
G20 Leaders agreed in 2009 to a comprehensive reform agenda to improve transparency in these markets, mitigate systemic risk, and protect against market abuse. To achieve these objectives, the G20 agreed that by end-2012:
The FSB will continue to monitor jurisdictions’ implementation of the OTC derivatives reform programme, as well as the extent to which the implemented reforms meet the G20’s underlying goals of improving transparency in the derivatives markets, mitigating systemic risk, and protecting against market abuse. The FSB will publish its next progress report in April 2014.