FIA supports the UK authorities’ proposed approach, allowing regulators to build on and complement operational resilience frameworks for firms and financial market infrastructures. FIA members also support the proposal for oversight of critical third parties to be as interoperable as reasonably practicable with similar existing and future regimes. Furthermore, FIA members support the proposals to promote regulatory and supervisory interoperability.
CONTINUE READINGFIA welcomes the Financial Conduct Authority’s proposals regarding the revised bond and derivative transparency regime in the UK. Resilient and robust markets are of key importance to FIA members and FIA supports the consultation’s stated aim of streamlining transparency requirements so that they better reflect the nature and depth of liquidity in the market.
CONTINUE READINGFIA and FIA EPTA have submitted responses to three consultations issued by the European Supervisory Authorities on the second batch of policy products under the EU Digital Operational Resilience Act (DORA). The consultations cover regulatory technical standards on the subcontracting of information and communication technology (ICT) services, content, timelines and templates for incident reporting, and threat-led penetration testing.
CONTINUE READINGThe Commodity Futures Trading Commission's proposed guidance on voluntary carbon markets is a welcome attempt to strengthen the integrity of these markets, FIA says in a response to the proposal. However, if the CFTC intends to establish additional requirements for exchanges that list derivatives on carbon credits, it should engage in a formal rulemaking process.
CONTINUE READINGFIA has submitted a response to the FCA’s commodity consultation. The FCA proposals are based on the UK’s wholesale markets review, initiated by HM Treasury in 2021. While FIA supports FCA’s goals of promoting market integrity and resilience, it is concerned about FCA’s proposed approach to the ancillary activities exemption.
CONTINUE READINGFIA and ISDA have submitted a response to the Australian Treasury's consultation on the financial market infrastructure reform package. In particular, the associations have carefully considered the proposed crisis resolution regime.
CONTINUE READINGFIA congratulates the Council of the EU and the European Parliament on reaching a provisional political agreement on the review of the European market infrastructure regulation and directive (EMIR 3.0). FIA supports positive incentives to further enhance the attractiveness of EU clearing and EU capital markets. However, FIA remains convinced that any measures to increase the attractiveness of EU clearing should be guided by the principle of facilitating client choice on where to clear and protecting the international competitiveness of EU market participants.
CONTINUE READINGFIA has responded to the London Metal Exchanges's consultation on Daily Price Limits (DPLs). While supporting the LME's goal of creating a transparent market suspension framework based on consecutive DPLs, the response raises crucial considerations such as the impact on trading and clearing, trade confirmation processes, and the importance of clear communication.
CONTINUE READINGFIA has submitted a joint response with GFMA and ISDA to the European Commission’s Call for Feedback on the review of the scope and regime for non-EU benchmarks. The response sets out the associations’ comments on the EC’s proposal, along with potential draft amendments where possible, and some additional revisions that are considered to support the EC’s aims.
CONTINUE READINGFIA has submitted its response to HKEX’s Proposal on Severe Weather Trading of Hong Kong Securities and Derivatives Markets. FIA expresses its full support for the proposal and highlights that adequate settlement bank support, full capacity operations, ETD vendor participation and give-up processing should be in place to ensure the initiative's success.
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