Senior policy-makers and market participants described continuing efforts to support firms that have yet to transition from LIBOR to new benchmark rates, and raised ongoing challenges posed by legacy contracts and "synthetic" LIBOR, among others.

The SEC proposed amendments to its rules governing proxy voting advice to address investor concerns that existing rules (i) "impede and impair the timeliness and independence of proxy voting advice" and (ii) increase litigation risks and compliance costs.

SEC Chair Gary Gensler and Treasury Under Secretary Nellie Liang commented on potential changes to Treasury market oversight at the U.S. Treasury Market Conference.

SEC Commissioner Caroline Crenshaw recommended that companies assess and adapt their internal accounting controls to safeguard corporate assets from evolving environmental, social and governance risks.

The CFTC requested information and comment on potential modifications to its swap clearing requirement to address benchmark reform.