The U.S. House Agriculture Subcommittee on Commodity Exchanges, Energy, and Credit considered testimony on international developments that could affect the U.S. derivatives markets.

CFTC Commissioner Dawn D. Stump outlined "common sense" fixes on position limits, swap execution facilities, the treatment of non-U.S. central counterparty clearing, a cross-border swaps rule and the implementation of initial margin for uncleared swaps.

Cadwalader attorneys analyzed recently adopted amendments to European counterparties trading derivatives obligations under the European Market Infrastructure Regulation.

The Financial Stability Board reported on "financial activities where supervisory practices and regulatory policies may give rise to market fragmentation."

CFTC Chair J. Christopher Giancarlo outlined several principles that guide effective cross-border regulation and provided an update on the status of CFTC cross-border rulemaking.

The CPMI and IOSCO concluded that the U.S. frameworks for systemically important payment systems, central securities depositories and securities settlement systems are consistent with the Principles for Financial Market Infrastructure.

Outgoing CFTC Chair J. Christopher Giancarlo defended the approach taken by global regulators to mitigate risk in derivatives markets.

The Depository Trust and Clearing Corporation outlined guiding principles for the post-trade processing of tokenized securities to ensure that risks are properly identified and managed.

ISDA, FIA and the Institute of International Finance provided an "incentives analysis" concerning central counterparty resolution issues raised by the Financial Stability Board.

EU lawmakers agreed to new legislation on how EU and third-country clearinghouses should be supervised in the future. CFTC Chair J. Christopher Giancarlo weighed in re-raising concerns about implementation.