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FIA Speaks Episode 21: Interning the Future
In this episode, FIA President and CEO Walt Lukken talks with Greenwood Project founders Elois and Bevon Joseph, two impressive individuals who both worked on the floors of exchanges and now dedicate their lives to helping black and Latinx students get trained and placed for internships at financial companies in Chicago, New York, London, and beyond.
CONTINUE READINGJoint trade association letter to EC on equivalence and recognition of UK CCPs
Nine industry associations (AFME, AIMA, EAPB, EBF, EFAMA, FIA, ICI, ISDA, SIFMA AMG) – representing the broadest group of market participants – have written to European Commissioner Mairead McGuinness, respectfully requesting that the European Commission (EC) extend the EC equivalence decision for UK CCPs.
CONTINUE READINGFIA EPTA response to the FCA Consultation Paper on a new UK prudential regime for MiFID investment firms (CP21/26***)
FIA EPTA appreciates the opportunity to provide feedback to the Financial Conduct Authority (FCA) on its third Consultation Paper regarding the implementation of the new UK prudential regime for MiFID investment firms. This document constitutes FIA EPTA’s response to the FCA’s Consultation Paper on a new UK prudential regime for MiFID investment firms (CP21/26). We welcome the FCA’s approach as set out in the Consultation Paper and agree that the FCA’s proposed rules are clear, proportionate and fit for purpose. In our response, we focus only on a limited number of areas where we believe further improvements or clarifications could be made to enable a proportionate, effective and practicable prudential regime for investment firms.
CONTINUE READINGFIA responds to FCA on prudential regime for investment firms
On 17 September 2021, FIA submitted a brief response to the third FCA consultation (CP21/26) on the proposed UK prudential regime for investment firms (UK IFPR).
CONTINUE READINGFIA, other trades comment on Basel consultation on cryptoassets
FIA joined five trade associations in a response to the Basel Committee on Banking Supervision’s consultative document on the prudential treatment of cryptoassets. The associations support BCBS’s decision to engage in an iterative approach to the prudential treatment of cryptoassets. However, the associations emphasize the need to provide clarity for the banks as the client demand grows.
CONTINUE READINGFIA and ISDA respond to ESMA’s consultations on CCP recovery & resolution
On 20 September, FIA and ISDA jointly responded to ESMA’s seven consultations on recovery-related topics in the CCP R&R regulation (CCPRRR).
CONTINUE READINGSpecial Report Series: Transparency
This Special Report is the ninth and final in the FIA and FIA Europe’s series covering specific areas of the European Securities and Markets Authority’s (“ESMA”) consultation process for the implementation of the recast Markets in Financial Instruments Directive (“MiFID II”) and Regulation (“MiFIR”).
CONTINUE READINGCCP recovery and resolution comparative review between FSB, EU and UK frameworks
FIA and ISDA have initiated a comparative review produced by Allen & Overy between the EU, UK and FSB CCP recovery and resolution frameworks. The UK framework includes HMT’s proposals for an expanded resolution regime (February 2021).
CONTINUE READINGFIA contributes comments to UK HM Treasury’s Wholesale Markets Review
FIA commented on the HM Treasury’s (HMT) Wholesale Markets review as part of the UK government’s efforts to establish how UK markets should adapt following the UK’s departure from the EU.
CONTINUE READINGUnderstanding the SEC’s evolving derivatives regulatory framework
With the finalization of both the SEC’s regulatory framework for derivatives use by RICs and BDCs and the SEC’s capital, margin and segregation rules regarding security-based swaps, the OTC derivatives regulatory landscape is expected to shift yet again.
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