On January 15 2007, new rules and requirements were introduced that affect banking institutions, the stock markets, investment companies and financial companies when entering into derivatives transactions. The new rules seek to simplify authorization; suppress the opinions of auditors and consultants; grant indefinite and general authorization to enter into derivatives operations; allow banking institutions to conduct derivatives credit operations; add new underlying operations against which derivatives can be written; expand the scope of operations for investment companies; and bring financial companies under the scope of the regulations.
February 01 2007