Arias-Barrera, Ligia Catherine (2015) The risk-based regulation approach : the case of the UK regime of central counterparties in the OTC derivatives market. Working Paper. Coventry, UK: University of Warwick.

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Abstract

The paper addresses the question of whether risk-based regulation is an efficient approach to the regime of Central Counterparties (CCPs) in the OTC derivatives market. The discussions below will first attempt to throw some light on the way risk-based regulation operates. They highlight the benefits, limits and complexities tied to the adoption of this approach to regulation. The core of the study in this paper is the analysis concerning the parameters that risk-based regulation offers to assess the current regime of Central Counterparties in the OTC derivatives market in the UK. The paper explores the UK risk-based model of regulation and supervision governing OTC derivatives. It is specifically focused on prudential supervision and conduct of business rules governing OTC derivatives transactions and the increasing tendency to use Central Counterparties CCPs. Additionally, this study will identify and assess the risks to the regulator’s objectives that are posed by the Central Counterparties CCPs, and to address those using various regulatory tools.

Item Type:	Working or Discussion Paper (Working Paper)
Divisions:	Faculty of Social Sciences > School of Law
Publisher:	University of Warwick
Place of Publication:	Coventry, UK
Official Date:	2015
Dates:	Date Event 2015 Available
Institution:	University of Warwick
Status:	Not Peer Reviewed

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