FIA urges Lord Hill to consider effects of EU regulation on Asia-Pacific markets

18 January 2016

On 13 November 2015, FIA, ASIFMA and ISDA hosted an industry roundtable with EU Commissioner Lord Jonathan Hill in Hong Kong. 

On 15 January 2016,  the associations wrote to Commissioner Hill to follow up on the meeting and set out concerns about the effects of existing or proposed EU regulations on Asia-Pacific markets.  Topics covered in the letter include:

  • the impact of EU benchmark regulation on third countries
  • equivalence decisions and recognition of third country CCPs under Article 25 of European Market Infrastructure Regulation (EMIR)
  • further clarity sought for equivalence decisions under Article 13 of EMIR including for obligations under EMIR Articles 4 (clearing), 9 (reporting), 10 (treatment of nonfinancial counterparties) and 11 (risk mitigation techniques for non-cleared OTC derivative contracts
  • Treatment of third-country issued securitisations under the Securitisation Regulation

The letter can be viewed in the pdf below. For further information, please contact Phuong Trinh

  • FIA
  • Benchmark Reform
  • Clearing
  • Cross Border
  • EMIR
  • Reporting