The Financial Stability Board (“FSB”) published a report which provides an overview of work underway to implement the G-20 recommendations for strengthening financial stability. It focuses on international policy development and implementation that has taken place since the G-20 Finance Ministers and Governors meeting in February 2011. The report covers a number of issues including improving the over-the-counter (“OTC”) and commodity derivatives markets. The report stated that major implementation projects are underway in the largest OTC derivatives markets, and international policy development is proceeding according to the timetable set out in the FSB October 2010 report entitled Implementing OTC Derivatives Market Reforms. However, although implementation is still in its early stages, the FSB is concerned that many jurisdictions may not meet the end-2012 deadline set by its October 2010 report