WASHINGTON -- The General Accounting Office concluded in a recent report that the over-the-counter derivatives activities of major broker-dealers are virtually unregulated because they are conducted through affiliates that are unregulated.

Derivatives market participants, however, disagreed with the GAO in congressional hearings on the report. They said that securities firm affiliates are regulated.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.