By Rachel Wolcott, Compliance Complete
LONDON, Oct. 4 (Thomson Reuters Accelus) - Credit derivatives dealers can expect to see specific rules and regulations to address some of the peculiarities of that market, said Edouard Vieillefond, director in charge of regulation policy and international affairs at French regulator Autorité des marchés financiers (AMF). Despite the huge amount of regulation already aimed at the broader derivatives market, there is concern that it will be insufficient to cover continuing questions that regulators have about its functioning.
“The question is will the reform currently under finalisation or implementation, such as EMIR in Europe, be enough? Credit default swaps are derivatives on credit that look like insurance products. They are so specific they may deserve specific treatment and additional regulatory requirements or perhaps a better harmonisation of the prudential and the traditional market conduct regulation,” Vieillefond told Compliance Complete. (more…)