In his final speech to the FIA, Chairman Giancarlo last week discussed three cross border swaps proposals that he will schedule for Commission consideration before he steps down on July 15.  Giancarlo has been particularly focused during his tenure on advancing a cross border swaps framework based on regulatory deference for jurisdictions that have adopted comparable G-20 swaps reforms—a position he advocated in a White Paper in 2018.  He is keenly interested to see his…

The Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) are increasing their focus on crypto assets and decentralized financial technologies (DeFi). Over the past week, the organizations published reports providing updates on, discussing developments in, and assessing risks relating to crypto-asset and DeFi initiatives around the world.  Given that these organizations facilitate coordination among national financial regulators, these reports may reflect the thinking of U.S. banking and markets regulators, as well…