At the same time, they noted that "total harmonization best alignment of rules across jurisdictions" would be hard, due to the fact that of jurisdictions' distinctions in law, policy, markets, execution timing, and legislative and regulatory procedures. On December 20, 2013 the CFTC offered information on its swaps guideline "comparability" decisions. The release dealt with the CFTC's cross-border compliance exceptions.
Obligatory reporting policies are being finalized in a variety of nations, such as Dodd Frank Act in the US, the European Market Facilities Laws (EMIR) in Europe, as well as guidelines in Hong Kong, Japan, Singapore, Canada, and other nations. The OTC Derivatives Regulators Forum (ODRF), a group of over 40 around the world regulators, offered trade repositories with a set of standards regarding data access to regulators, and the Financial Stability Board and CPSS IOSCO also made suggestions in with regard to reporting.
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