Regulator likely to reject calls for QFC delay

, ,
QFC Global Investor

Transcend CEO Bimal Kadikar spoke to Global Investor about the current status and approaching deadline for QFC Recordkeeping compliance. Despite industry requests for delaying the final deadline, “…most market participants do not believe it will be approved, because the whole reason behind QFC Recordkeeping is that during times of turmoil and high volatility, if an institution is in trouble, they have a full picture of the financial contracts….The pandemic definitely had some impact on the preparation part. But, for the most part, I think most of the financial firms from a project planning perspective are not facing any major delays…”

Read the full Global Investor article.