If you are the kind of person who thinks that speeches by Office of the Superintendent of Financial Institutions (OSFI) Superintendent Jeremy Rudin are occasion for excitement, and who thinks that OSFI draft guidelines on sound derivatives practices are even more exciting, then last week was like Thanksgiving dinner on Sunday and Monday…
…This is the essence of the rules versus principles debate. Rules are binary and bright; principles are more graduated and flexible.
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Adrian Myers – Globe and Mail – October 9, 2014.
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