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.
