The Financial Stability Board warned that the varying pace of implementation of over-the-counter derivatives reforms could undermine global efforts to improve the financial system. In its progress report on OTC implementation, the FSB expressed concern that many nations may not meet the G-20 countries deadline of the end of 2012 and to meet the target date, “jurisdictions need to take substantial, concrete steps toward implementation immediately.”
Click here to read the release from the Financial Stability Board