The rapid proliferation and recent turmoil of digital asset activities in the EU and US has tested existing regulatory frameworks and presented regulators and elected officials with difficult questions on how Digital Assets should be regulated.
Worldwide volume of exchange-traded derivatives reached 13.61 billion contracts in October, the second highest level ever recorded. This was up 0.8% from September 2023 and up 94.6% from October 2022.
FIA EPTA welcomes the objective of the EBA to ensure a harmonized interpretation and implementation of the Group Capital Test (“GCT”) by setting objective criteria to assess whether the structure of an investment firm group is: a) sufficiently simple, and b) poses significant risks to clients or to market. We agree that it is indeed important to ensure a level playing field in the application of the regime across the EU and important to provide guidelines to NCAs for them to supervise investments firms in an efficient manner.
AFME, CMCE, Europex, FESE, FIA, ISDA and FIA EPTA, representing a wide range of market participants in wholesale energy markets, have published a letter in anticipation of the trilogue meeting on the 26th October 2023 on the review of the Regulation of Wholesale Energy Market Integrity and Transparency (REMIT) in relation to the supervision of third country firms.
Sidley Austin will discuss issues that market participants may face with respect to the CFTC’s recently announced initiative to allocate enforcement resources to monitor and police the voluntary carbon markets.
FIA EPTA welcomes the opportunity to respond to the Consultation Paper developed by the ESG Data and Ratings Working Group (DRWG). In addition, FIA EPTA members welcome the actions and responsibilities taken by the UK Government, HMT and the FCA who established the DRWG in 2022.
On 20 September, FIA EPTA and several other trade associations sent a briefing to negotiators of the REMIT Review legislation with respect to requirements under Article 9 and the supervision of third-country firms.
FIA EPTA welcomes the opportunity to respond to the ESMA Consultation Paper on Technical Standards specifying certain requirements of the Markets in Crypto Assets Regulation (MiCA). FIA EPTA members believe the draft RTS and ITS set out a balanced approach. However, FIA EPTA members believe further proportionality should be considered.
