Europe News
The latest industry and regulatory news affecting Europe and the U.K.
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Exchange Risk Controls – Overview of CME and ICE risk controls
In July 2024, FIA unveiled its latest white paper: Best Practices for Automated Trading Risk Controls and System Safeguards. This comprehensive guide brings together FIA’s extensive research and expertise, exploring critical areas such as pre-trade risk management and exchange volatility control mechanisms.
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FIA publishes statement on the treatment of EU and non-EU regulated financial services under DORA
FIA, EACH, FESE, and AFME strongly urge the European Commission to clarify that financial services provided by EU and non-EU firms to financial entities are not considered ‘ICT services’ under the Digital Operational Resilience Act (DORA).
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Trade associations urge the European Commission to extend the equivalence decision for UK CCPs
As the time-limited equivalence decision for UK CCPs expires on 30 June 2025, FIA and several other trade associations urge the European Commission to extend the equivalence decision for UK CCPs in a non-time-limited manner and well in advance of 31 March 2025.
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FIA and FIA EPTA respond to European AI Office consultation on prohibited activities and AI System definition
FIA and FIA EPTA have submitted a response to the European Commission’s AI Office consultation on prohibited AI practices and the definition of an AI System. Following the consultation, the Commission will develop guidelines, under Article 96(1) of the AI Act, which are expected to be published in early 2025.
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Self-Reporting in the Age of Whistleblowers
Paul Hastings LLP will discuss the CFTC's policy on self-reporting and cooperation credit in enforcement actions, its application in recent cases and calls for reform. The program will also review developments in the CFTC's enforcement of supervisory violations and offer practical insights for on how to navigate the differing whistleblower regimes of the DOJ, CFTC, and SEC.
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EMIR 3.0: Key Requirements and State-of-Play
This webinar will present the new requirements to be introduced by EMIR 3.0, expected to be published shortly in the Official Journal of the European Union following final Council sign-off. The main objective of EMIR 3.0 is to make the EU clearing landscape more attractive, resilient, and to broaden access to liquidity.
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January 2025 in Sight: DORA State of Play
MEMBERS ONLY - The Digital Operational Resilience Act (DORA) sets out detailed requirements for incident reporting, ICT risk management, subcontracting, threat-led penetration testing, among other areas. This webinar will present the aim behind DORA, who it applies to, and the state of play.
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High-level roadmap for adoption of T+1 in EU securities markets
The European T+1 Industry Task Force, comprising 21 trade associations involved in European capital markets including FIA and FIA EPTA, has published a report titled "High-level Roadmap for Adoption of T+1 in EU Securities Markets."
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FIA and FIA EPTA support ESMA proposal on circuit breakers
FIA and FIA EPTA support ESMA's proposed introduction of new requirements on circuit breakers, which mandate greater transparency. By ensuring that market participants have access to clear information about the types of circuit breakers, their calibration, and the specific circumstances leading to their activation, the proposed changes will improve market integrity and provide participants with the relevant information to be better prepared in times of high volatility.
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Trade associations call for clarity on EMIR 3.0 effective implementation dates
FIA, AIMA, EBF, EFAMA and ISDA have sent a letter urging the European Commission and European Supervisory Authorities to clarify that market participants are not required to implement the European Market Infrastructure Regulation (EMIR 3.0) Level 1 provisions prior to the date of application of the associated Level 2 regulatory technical standards (RTS).
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