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Saturday, November 21, 2009 10:51 PM

Published 11/04/2009 by Advanced Trading


Spotlight on Regulation: The New Rules of the Game

The SEC has had a busy summer not only revamping its internal processes and procedures but also focusing on potential regulation in four major areas: the over-the-counter derivatives market, short selling, dark pools and sponsored access to exchanges. By...

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...Schapiro said, "One reason that we need legislation is that our sources of information about securities-related OTC derivatives products, participants and trading are limited, particularly when contrasted with the tools we have to monitor the markets for other securities products subject to the federal securities laws."
Spotlight on Regulation: The New Rules of the Game [Advanced Trading - 11/04/2009]
Schapiro added, "One important aspect of a new regulatory framework will be well-regulated central counterparties. CCPs address concerns about counterparty risk by substituting the creditworthiness and liquidity of the CCP for the creditworthiness and liquidity of counterparties. ... [But] achieving standardization, a prerequisite for centralized clearing, may present significant challenges."
Spotlight on Regulation: The New Rules of the Game [Advanced Trading - 11/04/2009]
...said Schapiro. "Specifically, Congress could make a limited number of discrete amendments to the statutory definition of a security to cover securities-related OTC derivatives. With these definitional changes, securities-related OTC derivatives could be incorporated within an existing regulatory framework that is appropriate for these products" she explained
Spotlight on Regulation: The New Rules of the Game [Advanced Trading - 11/04/2009]

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