|
The financial industry has seen a massive regulatory effort in 2012 that will continue undiminished, if not accelerate, in 2013. In the area of OTC derivatives, a number of rules have already come into force under the Dodd-Frank Act (e.g. swap dealer registration and trade reporting) or are in the final stages of being concluded. Europe and other jurisdiction like Asia are lagging behind the US with their version of OTC regulation but 2013 will mark a huge uptick in activity by regulators and financial institutions worldwide will feel the heat.
In the meantime further regulatory efforts to strengthen the banking system are being finalised – this includes Basel III, MiFID II as well as ring-fencing proposals ranging from Volcker in the US and Vickers in the UK to...
|