Asian policymakers await U.S. and EU rules on OTC and forex

04/11/2011 | FX Week (U.K.) (subscription required)

Authorities in Asia are waiting for clarity on regulation of over-the-counter derivatives, foreign exchange contracts and other products by European and U.S. regulators before making any decisions, market participants said. "There is no pan-Asian regulatory body in the same way you have got the EU. We do not expect to see anybody go out on their own and take a different approach from the others; that is not going to make much sense," said Jeremy Hill, head of forex and money market operations at Royal Bank of Scotland.

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