One Year Ago In Derivatives Week 

France’s Autorite des Marches Financiers opposed a proposed European Union ban on naked credit default swaps, as did the U.K. Financial Services Authority. French Member of Parliament Pascal Canfin strongly supported the idea and the market was alarmed by the prospect of an all-out ban. [The final ban on naked credit default swaps turned out far less strict than much of the market had feared. Most hedging purposes for which sovereign CDS are used is protected, and the regulation will go into effect Nov. 2012. (DW, 12/9).]