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By Domenico Buonamico – Director Nobusoft
Outsourcing Regulation
This article has been written following a number of public callings, also from Luxembourg, to reduce the regulatory pressure in financial derivatives on non-financial counterparties (NFC). It provides a concise enumeration of the main problems faced by NFC and a simple yet logical solution. The 2009 G-20 Pittsburgh Summit identified in the lack of awareness of financial derivatives at government level one of the main triggers for this financial crisis. Certainly the focus was to identify the extent of derivatives issued or traded by “Financial Institutions”. It became clear though that non-financial counterparties would soon become subject to this regulation too...
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