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Derivatives Regulators Risk Creating a ‘Mess,’ Wheatley Says

Regulators in the European Union and U.S. must work together to harmonize rules requiring derivatives to be centrally cleared, or risk creating a “mess,” the U.K.’s top markets regulator said.

“The clear risk is that a patchwork quilt of national and regional rules runs the risk of becoming unworkable,” Martin Wheatley, the chief executive officer of the Financial Conduct Authority, said at a conference in London today.