Though the EC proposals for a regulation on short selling
and credit default swaps (CDS) stretch to 43 pages, a great
deal of technical detail still needs to be finalised. The
industry must continue to engage to shape the final rules.
This just sets out framework from a European
level, said James Starky, chief legal officer at Cairn
Capital, at a meeting of the International Swaps and
Derivatives Association (Isda) in London yesterday.
Theres an awful lot of detail still to be worked
out on the technical standards.