When the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd Frank) was passed back in July 2010, you could be forgiven for thinking that this was the regulation for global OTC swap reform. The US really were 'first-to-market' on this one, by a long margin, and we didn't hear about OTC swap reform from other parts of the globe for the best part of another two years.

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Useful summary of the state of global OTC regulation, and long article covering the state of same by John Philpott.