Letter on Cross-Border Derivatives Regulation

Just as the EU and US were agreeing their approach to cross-border supervision of swaps trading, the EACT and the U.S. Coalition for Derivatives End-Users jointly wrote to global regulators including Mark Carney (FSB) and Greg Medcraft (IOSCO) arguing the need for global regulation of cross border derivatives to incorporate key principles for the global end user community. We argue that the focus, overwhelmingly on the financial sector, has worked to the detriment of end users.