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Credit Swaps Panel Said to Consider Conflict-of-Interest Rules

ISDA proposal would cover firms who are members of committee overseeing market.

By Sridhar Natarajan, Bloomberg | Updated on October 08, 2015

A derivatives industry group is proposing new rules intended to mitigate conflicts of interest on a panel of bond dealers and investors that determines when traders are paid on contracts linked to defaulted borrowers.

The proposal from the International Swaps & Derivatives Association would require firms on its so-called determinations committee to implement policies that would limit who can be involved in making the decisions for the $15 trillion credit-default swaps market, according to a document obtained by Bloomberg News. It also seeks to prohibit members from discussing decisions among each other outside of committee meetings.

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