The Financial Markets Law Committee (FMLC) has published a letter sent to the Financial Stability Board (FSB) relating to over-the-counter (OTC) derivatives market reforms. The key concerns are consistency of application across the board and legal uncertainty arising as a result of that, in particular due to the cross border nature of OTC derivatives.

The FSB’s next progress report on OTC derivatives market reforms is due to be published ahead of the November 2014 G20 leader’s summit.

View Financial Stability Board seventh progress report on implementation of OTC derivatives market reforms, 16 May 2014