“It’s clear the Department of Labor has a grasp on what’s going on and is working hard, but as the time frame becomes tighter and tighter, the investment industry is starting to understand that this has the potential to be a major roadblock on the path to implementing over-the-counter clearing for its clients.”
“It’s clear the Department of Labor has a grasp on what’s going on and is working hard, but as the time frame becomes tighter and tighter, the investment industry is starting to understand that this has the potential to be a major roadblock on the path to implementing over-the-counter clearing for its clients.”
— Joanne Medero, managing director in the Government Relations Group at BlackRock in San Francisco, on how the Department of Labor’s rules could make it tough for swap dealers to clear over-the-counter swaps for pension funds.