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Article: New York State Insurance Department Tables Plan To Regulate Credit Default Swaps.
- Article from:
- Mondaq Business Briefing
- Article date:
- November 25, 2008
CopyrightCOPYRIGHT 2008 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Originally published November 21, 2008
One of the most controversial proposals for regulating the derivatives market may have come to an end with yesterday's announcement by New York State Insurance Department Superintendent Eric Dinallo that his department would delay indefinitely its plan to regulate covered credit default swaps ("CDS"). In a letter circulated to authorized financial guaranty insurers, Mr. Dinallo stated that recent progress by the President's Working Group on Financial Markets on comprehensive federal regulation of CDS led his department to table its plan. For Mr. Dinallo's letter, please click here.
An intense debate has raged ...