OTC derivatives have been at the forefront of regulatory debate since the outbreak of the subprime crisis in 2007. This is due to the enormous market size, the perceived complexity and opacity of some of the instruments involved, and the counterparty exposures among interconnected financial institutions. In the US, President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 into law in July, introducing one of the most far reaching reforms since the Great Depression across the full spectrum of US financial services regulations. A key component of the new US legislation is designed to address certain perceived gaps in the OTC derivatives markets, blamed by many politicians and regulators as having exacerbated the crisis. In the EU, the Commission, following extensive public consultation, has published the proposed draft of the EU regulation on derivatives trading in September. We will analyse the recent and proposed regulatory changes in both the EU and the US, to consider the challenges currently faced by the industry.

We will discuss:

• Proposed EU Regulation on OTC derivatives, central counterparties and trade repositories
• Relevant aspects of the new US Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
• Industry response to the regulatory proposals and the likely impact of the new regulatory landscape on both financial and non-financial entities
• Anticipated changes as well as trends in the standardisation of OTC derivatives contracts and product structuring in the market

Speakers:

• Peter Green, Partner, Morrison & Foerster (UK) LLP
• Jeremy Jennings-Mares, Partner, Morrison & Foerster (UK) LLP

There is no charge to attend this event.

CPD and CLE credit is pending for this event.