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Many Companies Unprepared for Coming Derivatives Regulation

Tammy Whitehouse | February 20, 2013

A new era of swaps regulations is dawning, and most companies aren't prepared.

Non-financial companies are just starting to awaken to the complexities that will entangle all users of derivatives, and with some key regulations still not finalized, uncertainty is adding to the struggle.

For many companies, the wake-up call comes when they are approached by banks or other counter-parties to update documentation as required for those dealers under the Dodd-Frank Act. “Companies that use derivatives to hedge normal business risks, like long-term debt or fluctuations in interest rates, are playing catch up,” says Gail Bernstein, special counsel at law firm Wilmer Hale. “They have time, but if they are not getting up to speed, it will bite them.”

Under the Dodd-Frank Act, all derivatives trading must be done through a new clearing process meant to bring... To get the full story, subscribe now.