Committee launch inquiry into derivatives markets and supervision
16 December 2009
The House of Lords EU Sub-Committee on Economic Affairs has today launched its new inquiry into the European Commission’s communications on ensuring efficient and safe derivatives markets
The communications in question provide an outline of proposals from the Commission to reform the regulation and supervision of derivatives markets in the European Union.
As part of the inquiry the Committee are hoping to receive evidence on the economic benefits and risks associated with derivatives markets and the activities of central counterparties including how clearing might be regulated. The Committee will also be looking at trade repositories and who should be responsible for operating them.
On the launch of the inquiry, Baroness Cohen, Chairman of the Sub-Committee on Economic Affairs commented:
"The Commission’s proposed reforms on the regulation and supervision of EU derivatives markets need careful investigation to check if they have got it right. We want to hear from interested parties so that we can understand properly how the communications would translate into an effectively regulated and supervised derivatives market, and how they would impact upon these markets."
The Committee is keen to receive written evidence on this issue from any interested parties. The deadline for the submission of written evidence is 1 February 2010.
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