Global Regulators Need Better Coordination, Lobby Groups Say

by The Compliance Exchange on June 19, 2012

Global regulators need a better system of mutual recognition and coordination to ensure adequate oversight of financial markets such as the $648 trillion swaps market, according to a coalition of 11 financial-industry lobbying associations.

“The rules, processes and priorities of regulatory authorities continue to be largely geographically based and governed by differentiated national laws,” the EU-US Coalition on Financial Regulation said in a 65-page report.