In 2009, the G-20 leaders agreed that all standardized over-the-counter (OTC) derivative contracts should be traded on exchanges and cleared through central counterparties by the end of 2012. This article provides an update on the pending initiatives to regulate OTC derivatives in the US, in Switzerland and in the EU and gives a more detailed overview of the recently adopted European Regulation on OTC derivatives, central counterparties and trade repositories (EMIR).

The financial crisis has brought the derivatives to the forefront of regulatory attention. In 2010, as a response, the US enacted the Dodd-Frank Act which provides for new Federal regulation of the swaps market and is expected to make fundamental changes in the way the swaps market operates. Many sections of the Dodd-Frank Act require significant rulemaking by the SEC and CFTC. This article provides an update on recent developments and current status of such rulemaking.

The financial crisis has brought derivatives to the forefront of regulatory attention. In 2009, the G-20 leaders agreed that all standardized over-the-counter (OTC) derivative contracts should be traded on exchanges and cleared through central counterparties by the end of 2012. In CapLaw-2010-47, we gave an overview of the pending initiatives to regulate OTC derivatives in the EU. Since then, some significant developments have occurred. This article provides an update on the pending initiatives to regulate OTC derivatives in the EU.