Americas News
The latest industry and regulatory news affecting North and South America.
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FIA urges US Treasury Department to remain technology-neutral on AI
FIA's letter suggested Treasury focus on the applications of artificial intelligence within the context of a particular use case as opposed to the technology as a whole.
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FIA urges US Treasury Department to remain technology-neutral on AI
FIA's letter suggested Treasury focus on the applications of artificial intelligence within the context of a particular use case as opposed to the technology as a whole.
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FIA responds to FICC rules implementing the US Treasury clearing mandate
FIA responded to the Fixed Income Clearing Corporation’s (FICC) proposal to implement the SEC’s new clearing mandate for US Treasurys. FIA’s letter urges FICC to provide flexibility for market participants to clear US Treasurys at multiple clearinghouses, as they may arise in the future.
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Closing Chevron: Administrative Law Developments
Administrative law is center stage this year. Last week the U.S. Supreme Court overruled the well-known Chevron deference doctrine. This webinar will address the Court’s seismic decision and what it means for financial services regulation and federal administrative law more broadly moving forward.
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FIA responds to CDCC consultation on skin in the game
FIA and ISDA have responded to a consultation from the Canadian Derivatives Clearing Corporation on rule changes regarding skin in the game.
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FIA opposes California bill that would disrupt carbon markets
FIA filed a formal letter of opposition to California SB 1036, which would impede the development of robust and well-regulated voluntary carbon markets (VCMs). The legislation would subject entities that sell, issue, and engage in other activities relating to voluntary carbon offsets to heightened penalties under California law.
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FIA responds to B3 Clearing consultation on its recovery plan and early settlement auction
FIA has responded to B3 Clearing's consultation proposing to amend rules regarding B3's recovery plan. As part of the recovery plan, the clearinghouse is proposing to include a final auction, giving market participants a last opportunity to assist it in returning to a matched book, as well as early settlement auction or tear-up provisions in case the final auction fails.
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FIA responds to US FTC’s rule banning nearly all noncompete agreements
FIA and FIA Principal Traders Group have filed an amicus brief along with several other financial services trade associations in a case involving the US Federal Trade Commission’s recently issued rule that bans nearly all noncompete agreements in the US. In their brief, the associations highlighted the practical challenges of the rule for the financial industry and warned that it would harm competition and endanger confidential information.
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FIA asks CFTC to sunset large trader reporting for commodity swaps
FIA, joined by ISDA, has responded to the CFTC’s notice of intent to renew the collection of large trader reporting (LTR) data for physical commodity swaps. The associations reiterate and build on requests they have made in recent years for the CFTC to sunset the LTR rules for swaps, which were envisioned as a temporary measure while the CFTC stood up its comprehensive swap reporting framework under Dodd-Frank.
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FIA responds to CFTC proposed rulemaking on FCM separate account margining
FCMs are currently relying on no-action relief that allows them to separately margin accounts of the same beneficial owner. This rule marks the second attempt by the CFTC to codify that relief. FIA’s letter asks the CFTC to codify the relief as written without laying on additional highly prescriptive requirements that limit FCM discretion to risk manage accounts.
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