IOSCO Reviews International Progress in Regulation of Derivatives Market Intermediaries

In a recent report, IOSCO found that jurisdictions have made "significant progress" in adopting legislation, regulation and policies regarding derivatives market intermediaries ("DMIs") (e.g., swap dealers). Specifically, IOSCO reported progress in the six areas addressed in its International Standards for DMI Regulation: (i) the scope of regulatory reform – including the framework for the regulation and definition of DMIs, (ii) registration and licensing standards, (iii) capital standards or other financial resource requirements for non-prudentially regulated DMIs, (iv) business conduct standards, (v) business supervision standards and (vi) recordkeeping standards.

The IOSCO Assessment Committee noted that many jurisdictions are still in the process of considering appropriate regulatory regimes, and recommended that no Implementation Assessment (or Level 2) Review be undertaken before the end of 2016.

See: Review of Implementation Progress in Regulation of Derivative Market Intermediaries.