At the exact same time, they noted that "complete harmonization ideal positioning of guidelines across jurisdictions" would be challenging, due to the fact that of jurisdictions' distinctions in law, policy, markets, implementation timing, and legislative and regulatory processes. On December 20, 2013 the CFTC provided info on its swaps regulation "comparability" decisions. The release attended to the CFTC's cross-border compliance exceptions.
Necessary reporting guidelines are being finalized in a variety of countries, such as Dodd Frank Act in the US, the European Market Facilities Regulations (EMIR) in Europe, as well as regulations in Hong Kong, Japan, Singapore, Canada, and other nations. The OTC Derivatives Regulators Online Forum (ODRF), a group of over 40 worldwide regulators, supplied trade repositories with a set of guidelines relating to data access to regulators, and the Financial Stability Board and CPSS IOSCO also made recommendations in with regard to reporting.