Treasury written question – answered at on 18 October 2011.
To ask the Chancellor of the Exchequer what assessment his Department has made of the potential effects on the City of London of EU regulation of over-the-counter derivative trading.
The Government fully support the efforts to reduce systemic risk in over-the-counter (OTC) derivatives trading through the full implementation of G20 commitments.
As the legislative process in the EU progresses, the Treasury keeps in regular contact with market participants and end users to understand the potential effects of regulation. The Government are committed to ensuring that the OTC market in London is both safe and efficient.
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