In 1733, Sir John Barnard, the Mayor of London, introduced an Act of Parliament which forbade the popular equity derivative contracts of the day. 2010 will probably be the most momentous year of derivatives regulation since, and not just in London but in Europe and the US, too.
In October, the outgoing European Commission published a parting regulatory shot setting out a derivatives regulatory vision for a new Commission to implement next year. The new EU proposals boil down to legislative promises for reducing counterparty credit operational risk, increasing market transparency and enhancing market integrity and oversight.
