FIA, FIA Principal Traders Group and several other financial services trade associations have filed an amicus brief in response to the US Federal Trade Commission's appeal of a decision blocking its final rule that would ban nearly all noncompete agreements in the US.
On 22 January, the European Securities and Markets Authority hosted the T+1 Governance Launch Meeting to present the arrangements for driving the move to the reduction of default settlement cycles to T+1 for EU securities markets. Members of the Industry Committee, including FIA and FIA EPTA, welcome ESMA's report, which identifies a pathway and a date for the transition to the T+1 settlement cycle.
FIA has submitted a response to ESMA's consultation paper on the review of RTS 22 on transaction data reporting under Art. 26 and RTS 24 on order book data to be maintained under Art. 25 of MiFIR.
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).
FIA's response to LME Clear's consultation supports proposed changes to the minimum net capital requirements, the default fund mutualisation threshold and anti-procyclicality measures. However, the letter highlights a few areas for clarification, notably the impact on its membership concerning the proposed increase in net capital requirement and further details on changes related to the default fund.
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.
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.
FIA has shared its position with the European Commission and the European Supervisory Authorities on the requirements for the subcontracting of ICT services under the Digital Operational Resilience Act (DORA).
