Delay Likely for New Rules on Swaps (WSJ)

Overseas regulators push for more time on global portion of rules.

International regulators want more time to consider new, tighter rules on derivatives, making it unlikely that the rules will be in place at the end of this year, as scheduled, according to the Wall Street Journal. Regulators in the U.K. would like an extra six months, while Japanese regulators are hoping for a year and Hong Kong, Australia and Singapore are looking for an indefinite hold.

Big U.S. banks have to start complying with new rules on swaps at the start of next year, and international firms that do business with U.S. companies were supposed to comply by mid-year, unless their own country had come up with similar regulations.

 

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