The FSA has published its Markets Regulatory Agenda

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Click here (see alert below for links) for commentary by Jacqui Hatfield, partner and head of the UK Financial Services Regulatory Group.

Key focus of the FSA in this area will be on: reforming OTC derivative markets; stronger global standards for clearing houses; better arrangements for handling defaults in the clearing and settlement system; greater transparency in nonequity markets; and establishing the regime for oversight of credit rating agencies.

Notable points are:

The focus is on the need for international agreement and standards. This was highlighted in terms of setting standards for clearing houses, regulatory requirements for trade repositories, OTC contracts which are eligible for clearing and bans on naked shorts.

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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