Forex derivatives under scrutiny
Mexico's National Banking and Securities Commission (NBSC) said concern had emerged that corporates were not adequately disclosing derivatives positions to investors under the Securities Market Act. Corporates have made big mark-to-market losses on currency hedges as the peso falls against the dollar. The currency has fallen 17% against the dollar in the past month, trading at 12.54 pesos on October 16.
"The banks will be interviewed as the issuers of the derivatives," Miguel Garza, the vice
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