Press Release: Financial services: Commission sets out future actions to strengthen the safety of derivatives markets

On 20 October 2009 the European Commission adopted a Communication for ensuring efficient, safe and sound derivatives markets. The Communication set out future policy actions to increase transparency of the derivatives market, reduce counterparty and operational risk in trading and enhance market integrity and oversight. They follow the stakeholder consultation launched with the Communication in July and the public hearing in September. The Commission will come forward with legislative proposals in 2010. These proposals will be in line with the G20 Pittsburgh statement and will be accompanied by a thorough impact assessment. In order to avoid any risk of regulatory arbitrage and to ensure a global consistency of policy approaches, the Commission stands ready to work with authorities around the world when finalising the proposals.

European Commission: MEMO/09/465: Derivatives Markets – Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/09/465&format=HTML&aged=0&language=EN&guiLanguage=en

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