June 24, 2019 / 3:23 PM / 23 days ago

U.S., UK regulators to crack down on credit derivatives abuses

LONDON, June 24 (Reuters) - U.S. and British derivatives market regulators said on Monday they will collaborate to stamp out abuses known as “manufactured credit events”.

The Commodity Futures Trading Commission (CFTC) and Britain’s Financial Conduct Authority said in a joint statement that the continued pursuit of “various opportunistic strategies in the credit derivatives markets” may adversely affect integrity and confidence in them.

The two agencies said they will make “collaborative efforts to prioritize the exploration of avenues, including industry input, which will address these concerns”.

Reporting by Huw Jones, editing by Carolyn Cohn

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