The paper examined the role played by over-the –counter (OTC) derivatives in the recent global financial crisis and corporate failures, and the extent to which these have impacted the regulation of OTC derivatives products and markets. The research methodology employed is the critical analysis of empirical literature. The findings of the paper are therefore mixed as there were divergent views as to OTC derivatives being the sole cause of the global financial crisis and corporate failures among stakeholders. The paper therefore proposed consistency in OTC derivatives reforms among countries, proper supervision by regulatory bodies over OTC participants among others.
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