The OTC Derivatives Regulators Group on Cross-Border Implementation Issues (ODRG) issued a status report claiming that members continue to address “potential gaps and duplications” in connection with the treatment of branches and affiliates internationally, and issues emanating from the G20’s commitment that the trading of standardized OTC derivatives occur on exchanges or electronic trading platforms, including the treatment of organized trading facilities. The regulator group is also continuing to implement prior agreements related to equivalence and substituted compliance, clearing mandates, risk mitigation for non-cleared transactions, and data in trade repositories and barriers to reporting. The ODRG includes representatives from 12 worldwide regulatory organizations including the Commodity Futures Trading Commission, the Securities and Exchange Commission, the European Commission and the European Securities and Markets Authority. (Click here to see more details regarding this matter in the article “OTC Derivatives Regulators Issue Report Regarding Cross-Border Issues” in the September 12 edition of Corporate and Financial Weekly Digest by Katten Muchin Rosenman LLP.)