Newsletter November 2011: Some countries likely to miss OTC reform deadline

BASEL – With the deadline barely a year away, few countries have the necessary legislation or regulations in place to meet their commitments to reform the vast over-the-counter (OTC) market for privately-negotiated derivatives, according to the latest progress report from the Basel-based Financial Stability Board (FSB). The mid-October progress report concludes that countries should now “aggressively push forward to meet the end-2012 deadline in as many reform areas as possible.”