Basel Committee and IOSCO Release Second Consultative Paper on Uncleared Derivatives Margin
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The Basel Committee on Banking Supervision (“BCBS”) and the International Organization of Securities Commissions (“IOSCO”) on February 15 released a second consultative paper on margin requirements for uncleared derivatives (the “Second Consultative Paper”). The proposal is intended to establish minimum standards for uncleared derivatives margin rules, which would be implemented by national regulators. Comments on the Second Consultative Paper are due by March 15, 2013.