CFTC Division of Swap Dealer and Intermediary Oversight Director Joshua B. Sterling highlighted a number of regulatory issues for swap dealers being considered at the CFTC.
The Financial Conduct Authority, Bank of England and members of the Working Group on Sterling Risk-Free Reference Rates reaffirmed that firms should not rely on LIBOR being published after 2021, even with the impact of COVID-19 on markets.
In its annual review of financial stability and systemic risk, the Financial Stability and Oversight Council highlighted COVID-19-related financial stresses.
SEC Chair Jay Clayton criticized the lack of foreign anti-corruption enforcement and emphasized the importance of international collaboration in the fight against offshore bribery.