Customer Reviews

Over-the-Counter Derivative Products: A Guide to Legal Risk Management and Documentation

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As Harvard B-Schools's Tufano notes in his Foreword, this really is an excellent book for business managers and finance professionals, and their lawyers. It explains what all derivatives have in common and helps you understand how and why they work -- when used properly, as the book and today's markets constantly remind us. The book should have lasting value because it relies on the stable functions of derivatives and of their regulation. And through its functional approach to fiduciary duties, disclosure issues, and exchange regulation, the book also throws a lot of light on derivatives' legal and regulatory systems. (I'm not a lawyer but I do manage my firm's regulatory compliance.) I have seen the book's building block approach used to simplify technical discussions of individual products. But I don't recall ever having seen it woven as it is here into a discussion of law and regulation that makes sense to business and legal audiences. Tufano says that to work together confidently, managers and lawyers need a heightened appreciation of each other's expertise and a common language. I agree that this book makes an an important contribution to both. The book should also be a useful to teachers and students in business and law schools. Definitely worth reading, a must for the library of any law firm and the desk of any senior manager or market professional.