THE DISTILLERY: Reading Rinehart

One jotter examines the subtleties of OTC derivatives, while another returns to the Fairfax registry.

The growing list of collapsed over-the-counter derivative sellers has got global regulators talking tough about the industry, and Australia is no exception. However, The Age’s Adele Ferguson explains this morning that while the Australian Securities and Investments Commission has made it clear that it takes the practice of taking clients funds and then not giving them back in the event of a collapse seriously, it needs to recognise that there are two separate types of OTC derivative sellers. Elsewhere, another commentator has an interesting inside word on Gina Rinehart’s share raid on Fairfax that includes some other big names, while the Glencore International-Xstrata merger discussions has another writer a little puzzled.

Firstly, it’s The Age’s Adele Ferguson who says ASIC may have utilised some strong words against the over-the-counter derivatives industry with its regulatory guide, but falls short on one crucial point.



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