OTC Derivatives Regulation - Paper - Report on Cross-Border Implementation Issues, September 2014

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Note: For a summary of all ODRG updates, click HERE.

September 2014

On September 10, 2014, the OTC Derivatives Regulators Group, made up of derivatives regulators from Australia, Brazil, the European Union, Hong Kong, Japan, Ontario, Quebec, Singapore, Switzerland, and the United States, issued an update to the G20 on cross-border implementation issues. The report also identifies a cross-border issue that may call for legislative change - barriers in certain jurisdictions that may prevent the transmission of counterparty-identifying information.<ref>[{{{url}}} OOTC Derivatives Regulators Issue Report to the G20]. CFTC. Retrieved on September 10, 2014.</ref>

The update concentrates on two areas:

  • potential gaps and duplications in the treatment of branches and affiliates; and
  • treatment of organized trading platforms and implementation of the G20 trading commitment.

The report also addressed four areas in which it was working to implement understandings reached previously:

  • equivalence and substituted compliance;
  • clearing determinations;
  • risk mitigation techniques for non-centrally cleared derivatives transactions (margin); and
  • data in trade repositories and barriers to reporting to trade repositories.

The ODRG anticipates that it will submit its next report in preparation for the G20 Leaders Summit in November 2014.



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