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April 18th, 2012 
FAKE NEWS for the Zionist agenda Australia’s financial regulators are seeking industry-led solutions to fulfil the country’s Group of 20 commitment to improve the risk management of financial instruments.
The federal government has released the final report of the Council of Financial Regulators outlining its proposed next steps for derivative products that are traded outside of regulated and transparent markets, the so-called over-the-counter (OTC) markets.
“The global financial crisis highlighted the massive build-up of systemic risk in some advanced countries through the rapid growth of highly complex, leveraged derivative products which were traded outside appropriately regulated and transparent markets,” Treasurer Wayne Swan said releasing the report on Wednesday.
In September 2009, the G20 endorsed a global transition of OTC derivatives products towards recognised exchanges or trading platforms where appropriate, in order to boost market transparency.
The G20 also agreed that all standardised OTC derivatives should be cleared through a central counterparty and all OTC derivatives should be reported to trade repositories, in order to reduce systemic risk and enhance transparency.
The group committed to make this transition by the end of 2012.
“The government and regulators have been working through global forums since the crisis to develop a comprehensive framework for improving transparency and risk management in relation to derivatives trading,” Mr Swan said in a statement.
He said council has engaged extensively with domestic market participants since 2009 to identify the most appropriate policy settings for Australia it meet its G20 commitments, including the release of a discussion paper in June 2011.
The council is made up of the Reserve Bank of Australia, Treasury, the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority.
In the report, the council says industry-led solutions, driven by appropriate regulatory incentives, should initially be the preferred route to increasing the use of centralised infrastructure in Australia.
It has also recommended the development of a legislative framework in the future to ensure the adoption of acceptable industry practices within a timeframe that is consistent with the international implementation of the G20 OTC commitments.
The council is seeking submissions from interested parties by June 15.
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