Newsletter Jul/Aug 2009: Transparency regs proposed for non-equity markets

PARIS – EU securities regulators are advising the European Commission to impose a mandatory post-trade transparency regime on markets for corporate bonds, structured finance products, and credit derivatives. In the case of corporate bonds, this represents a reversal of previous advice given just two years ago, when it was concluded that a mandatory transparency regime was not necessary as there was no evidence of market failure. Major capital markets associations promised to provide greater post-trade information to retail investors on a voluntary basis, instead.