Publications & Filings
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FIA responds to FCA consultation on derivatives markets transparency
FIA 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.
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FIA responds to second batch of DORA policy products
FIA 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.
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FIA supports IOSCO’s good practices for voluntary carbon markets
On 1 March FIA responded to a public consultation issued by the International Organization of Securities Commissions outlining a proposed set of “good practices” to promote the integrity and orderly functioning of voluntary carbon markets (VCMs). In the response, FIA commended IOSCO for fostering a much-needed dialogue on the issues surrounding the development of VCMs.
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FIA responds to FCA commodities consultation CP23/27
FIA 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.
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FIA responds to CFTC guidance on the listing of voluntary carbon credit derivatives
The 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.
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FIA and ISDA respond to Australia FMI regulatory reforms consultation
FIA 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.
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FIA response to provisional EMIR 3.0. agreement
FIA 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.
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FIA responds to LME Clear consultation on minimum net capital and default fund
Transparency is a fundamental pillar in Financial Market Infrastructures, and we recommend the LME to provide an updated Daily Price Limits (“DPL”) paper clearly outlining the impact on trading and clearing as well as general impact to market and liquidity risk.
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Joint industry response to European Commission's Call for Feedback on BMR
FIA 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.
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Joint industry response to European Commission's Call for Feedback on BMR
FIA 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.
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