Derivatives Law Evolution: A Trans-Continental Perspective On Business Conduct Requirements

Traditionally, many over-the-counter (OTC) derivatives attorneys practiced primarily as transactional lawyers, negotiating and drafting trade documentation in these generally unregulated markets. Post-financial crisis, however, participants in swaps markets – dealers and end-users alike – are navigating a “sea change” of new regulatory requirements. ¹For early background on U.S. reforms, see Gordon F. Peery, K&L Gates LLP, With Comprehensive Clearing Mandates, Historic Legislation Poised to Create a Sea Change in Regulation of the U.S. Derivatives Market, Bloomberg Law Reports - Derivatives Law® (July 9, 2010). On both sides of the North Atlantic, comprehensive derivatives regulatory schemes are being introduced, and ...