Rececent International Regulatory Activity

  • On November 17, IOSCO released a draft consultation paper on CDS post trade transparency (comments due by February 15, 2015).
  • On November 17, FSB Chair Mark Carney delivered a speech on financial reform.
  • On November 16, the G20 Leaders published a Communiqué following the summit held in Brisbane on November 15 and 16, 2014. On financial reforms, the G20 Leaders welcome the proposals for global systemically important banks (“G-SIBS”) to hold additional loss absorbing capacity, endorse the roadmap for shadow banking reform and call on regulatory authorities to further progress on implementing derivatives reforms. The G20 Leaders’ Communiqué is available here.
  • On November 14, the FSB released several reports regarding G20 regulatory reform progress (see Press Release).

FSB Representational Structure Report

Progress Report (14 November 2014)

Shadow Banking Progress Report/Road Map

Letter to G20 Leaders regarding financial reform

    • On November 10, ESMA issued a Consultation Paper on EMIR trade repository reporting (comments due February 13, 2015).
    • On November 7, the FSB issued its 8th semi-annual Progress Report on derivatives reform implementation (comments due December 7, 2014).
    • Also on November 7, ESMA released responses to its Consultation Paper on the central clearing of FX non-deliverable forwards.
    • On November 6, the BIS released statistics regarding OTC derivatives market activity for the first half of 2014.