Email News Service Jul 09: GRR news summary: EU OTC proposals; G8 agreement on new rules played down; UK hindering global reform; Fed systemic role logical; Regulation push must continue; Countercyclical charges seen difficult

LONDON, July 6 (Global Risk Regulator) – A summary of recent international regulatory news follows: EU OTC plans expect default swap clearing deadline to be met BRUSSELS – The off-exchange derivatives industry is expected to move the clearing of controversial credit default swaps (CDS), frequently blamed for a malign role in the global financial crisis, to approved central clearing parties (CCPs) by the end of this month, the European Union’s top financial regulator said at the end of last week.