Europe News
The latest industry and regulatory news affecting Europe and the U.K.
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FIA EPTA response to the ESMA Consultation Paper on Guidelines on the MiFID II/MiFIR obligations on market data
FIA EPTA members welcome the opportunity to respond to this Consultation Paper on Guidelines on the MiFID II/ MiFIR obligations on market data. FIA EPTA has consistently supported ESMA’s work on market data issues and we very much welcomed ESMA’s review report from December 2019 and its draft Guidelines which build on this report. As we have shown in our response to ESMA’s previous consultation in 2019, user data fees are high and have increased over the past years.
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FIA comments on accessing and using wholesale market data
FIA responded to the FCA Call for Input on focused on the topic of market data from the market data users’ perspective and has been drafted with exchange-traded derivatives.
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FIA urges market role in addressing climate change
FIA President and CEO Walt Lukken made the following statement following FIA’s participation in a public consultation led by the Taskforce on Scaling Voluntary Carbon Markets (TSVCM).
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Brexit end game: state of play for financial firms
An overview of what has changed and what issues are outstanding as the transition period draws to a close
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Associations send letter to Commission on DTO equivalence
On December 9, FIA, ISDA and six other trades associations (the Association for Financial Markets in Europe, the Alternative Investment Management Association, the European Banking Federation, Electronic Debt Markets Association Europe, the European Venues and Intermediaries’ Association and the asset management group of the Securities Industry and Financial Markets Association) sent a letter requesting that the European Commission recognize the equivalence of UK trading venues for the purposes of the derivatives trading obligation before the end of the Brexit transition period.
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European Commission urged to issue equivalence determinations before end of transition period
On 30 November, FIA jointly with ISDA, AIMA, AFME, ICI Global, EBF and EFAMA submitted a letter recommending the European Commission to issue equivalence determinations under EMIR Art 2a before the end of the transition period, in order to ensure that EU firms can benefit from treatment similar to that available to firms established in the UK, avoiding unintended consequences that would have an impact on their risk management or investment activities.
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FIA submits response to FCA Consultation Paper on its approach to international firms (CP20-20)
On 27 November, FIA responded to the UK Financial Conduct Authority’s consultation on its approach to international firms.
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FIA EPTA response to the FCA’s consultation paper on its approach to international firms
The FIA European Principal Traders Association (FIA EPTA) appreciates the opportunity to respond to the FCA’s consultation paper on its approach to international firms and the process for setting out the FCA’s expectations of such firms operating in the United Kingdom under its framework. FIA EPTA is supportive of the FCA’s proposed flexible approach to the regulation of international firms.
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Response by the FIA EPTA to the ESMA consultation on MiFID II/ MiFIR review on the functioning of Organised Trading Facilities (OTF)
FIA EPTA supports transparent, robust, and safe markets with a level playing field and appropriate regulation for market participants. We consistently support the aim of the market structure reforms laid out in MiFID II/MiFIR and welcome the opportunity to respond to this consultation on MiFID II/ MiFIR review on the functioning of Organised Trading Facilities (OTF). Our members are aware of various systems and market practices which seem to conflict with MiFID II expectations for multilateral systems.
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FIA joins industry letter requesting extension to BMR third country regime transitional period
FIA, working with 13 other trades associations representing all corners of financial markets, has published a paper expressing concern that the EU Benchmarks Regulation third country benchmarks regime transition period should be extended to end-2025. It is currently set to expire at the end of 2021.
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