The Over the Counter ("OTC") Derivatives Regulators Group ("ODRG") updated G20 leaders on continuing efforts to identify and resolve cross-border issues associated with the implementation of the G20 OTC derivatives reform agenda. The ODRG Report focused on the recognition of clearing agencies settling cross-border transactions, and thus being subject to the potential exercise of jurisdiction by the regulator of each participant to the trade, as well as the clearing corporation's home regulator. The ODRG lists to a number of agreements signed between different regulators allowing market

A federal grand jury returned a superseding indictment charging two former derivatives traders with participation in a scheme to manipulate the U.S. Dollar and Yen London InterBank Offered Rate ("LIBOR"). The case against the two former derivatives traders is part of the Justice Department's industry-wide investigation of LIBOR manipulation by financial institutions and individuals.

The CFTC released its enforcement results for fiscal year 2015, which "included a record $3.144 billion in civil monetary penalties ordered against wrongdoers." The CFTC stated that: “These are the highest figures in the CFTC’s history with respect to the amount of civil monetary penalties imposed and collected during a fiscal year. Alone, this year's civil monetary penalties total more than twelve times the CFTC’s operating budget for the FY. These Orders bring the CFTC’s total monetary sanctions over the past two fiscal years to more than $6.4 billion.” The CFTC reported that it filed 69

The SEC named Bryan Bennett to lead the examination program in its Los Angeles Regional Office. Mr. Bennett will oversee the SEC's examination programs in Southern California, Nevada, Arizona, Hawaii and Guam. His staff will include approximately 60 examiners, accountants and attorneys.

Board of Governors of the Federal Reserve ("FRB") Governor Daniel K. Tarullo encouraged regulators from home and foreign jurisdictions to share responsibility for supervising international banks. "In the absence of either a global regulator or completely insular national banking systems," he said, regulators "must continue to work toward a system of shared responsibilities to assure both home and host regulators that internationally active banks are subject to adequate oversight and controls." Governor Tarullo noted that "what might have been economic advantages for host countries from foreign