ACT pans EU OTC proposals
LONDON - The Association of Corporate Treasurers (ACT) has hit back at the European Union's proposed reforms to over-the-counter derivatives regulation, claiming changes will damage their ability to manage market risks.
In a response released last Friday (August 28), the London-based industry body said exemptions should be made for non-financial companies. The ACT claims derivatives used for hedging by non-financial corporates do not pose systemic risks to the global financial system.
"If
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