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Cross-border

  • Associations send letter to Commission on DTO equivalence

    On December 9, FIA, ISDA and six other trades associations (the Association for Financial Markets in Europe, the Alternative Investment Management Association, the European Banking Federation, Electronic Debt Markets Association Europe, the European Venues and Intermediaries’ Association and the asset management group of the Securities Industry and Financial Markets Association) sent a letter requesting that the European Commission recognize the equivalence of UK trading venues for the purposes of the derivatives trading obligation before the end of the Brexit transition period.

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  • European Commission urged to issue equivalence determinations before end of transition period

    On 30 November, FIA jointly with ISDA, AIMA, AFME, ICI Global, EBF and EFAMA submitted a letter recommending the European Commission to issue equivalence determinations under EMIR Art 2a before the end of the transition period, in order to ensure that EU firms can benefit from treatment similar to that available to firms established in the UK, avoiding unintended consequences that would have an impact on their risk management or investment activities.

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  • FIA submits response to FCA Consultation Paper on its approach to international firms (CP20-20)

    On 27 November, FIA responded to the UK Financial Conduct Authority’s consultation on its approach to international firms.

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  • FIA and GFMA comment on China’s draft Personal Information Protection Law

    FIA and GFMA wrote in support of a draft law in China to establish reasonable and proportionate mechanisms to safeguard personal information.

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  • FIA paper on the necessity, path and related issues of opening the financial futures market

    FIA greatly appreciates CFFEX’s interest in these critical topics that affect the global financial markets and the end-users who rely on derivatives products for price certainty and to hedge their risks. FIA strongly supports the regulatory recognition and deference model that has been the foundation of the futures industry for years. Identical rules, on a line-by-line basis, implemented globally across jurisdictions is impracticable.

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  • FIA welcomes the decisions by EC on time-limited equivalence and ESMA on UK CCP temporary recognition

    FIA President and CEO Walt Lukken today made the following statement in reaction to the EC and ESMA decisions to formally grant temporary equivalence and recognition for clearinghouses based in the UK, which allow them to continue to provide clearing services in the EU at the end of the transition period between the EU and the UK.

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  • FIA and ASIFMA comment on draft Data Security Law of the People’s Republic of China

    FIA along with the Asia Securities Industry & Financial Markets Association submitted comments on the Consultation Draft of the Data Security Law (DSL) to the Legislative Affairs Commission of the Standing Committee of the 13th National People's Congress.

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  • FIA and ISDA publish paper on non-default losses at clearinghouses

    FIA and ISDA published a primer on the issue of non-default losses (NDL) at clearinghouses.

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  • FIA, ISDA and IIF comment on FSB paper on clearinghouse resolution and equity

    FIA, the International Swaps and Derivatives Association (ISDA), and the Institute of International Finance (IIF), (collectively the Associations), submitted a comment on the Financial Stability Board’s (FSB) consultation paper “Financial resources to support CCP resolution and the treatment of CCP equity in resolution.”

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  • Brexit and its Impact on the Cleared Derivatives Markets: A Primer

    The UK left the EU on 31 January 2020 and is in a transitional period that ends on 31 December 2020. During this period, EU law continues to apply in and to the UK and UK financial services firms continue to benefit from all existing EU rights, as do EU firms operating in the UK.

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