The Over-the-Counter (OTC) Derivatives Regulators Group (ODRG) issued a report today that provides an update to the G20 Leaders regarding the ODRG’s continuing effort to identify and resolve cross-border issues associated with the implementation of the G20 OTC derivatives reform agenda.
The ODRG is made up of authorities with responsibility for the regulation of OTC derivatives markets in Australia, Brazil, the European Union, Hong Kong, Japan, Ontario, Quebec, Singapore, Switzerland, and the United States.
The report reflects how the ODRG has addressed, or intends to address, cross-border issues identified since the publication of the report published in advance of the St. Petersburg Summit in September 2013.
The report also reflects progress on cross-border issues identified by the ODRG in previous reports on which the group:
- Continues to work to implement the relevant understandings; and
- Monitors the relevant work of other multilateral working groups.
Finally, the report reflects the acknowledgement that as ODRG member authorities continue in the process of implementing their laws and rules for domestic and cross-border transactions, additional cross-border issues could be identified which may need to be considered by the ODRG in order to seek resolution. The ODRG Principals also are committed to addressing such cross-border issues as they are identified.