FIA has filed a response to a consultation report on principles for the regulation of commodity derivatives from the Board of International Organization of Securities Commissions (IOSCO). The report, published in November 2021, aimed to reflect changes and developments in commodities derivatives markets since the publication of the existing IOSCO Principles for the Regulation and Supervision of Commodity Derivatives in 2011.
CONTINUE READINGFIA has sent a letter to the US Securities and Exchange Commission in support of the agency’s efforts to modernize recordkeeping requirements, and in support of comments filed with the SEC by the Securities Industry and Financial Markets Association on the topic.
CONTINUE READINGFIA and the International Swaps and Derivatives Association (ISDA) welcomed a consultation by the Bank of England (the Bank) on supervisory stress testing. The Associations together agreed overall with the presented approach. However, given the huge effort to run supervisory stress tests, the Associations jointly proposed for global regulators to join forces and run joint SSTs.
CONTINUE READINGFIA and other trade associations welcome clarification from ESMA that national competent authorities are expected not to prioritise supervisory actions in relation to the application of the CSDR buy-in regime.
CONTINUE READINGFIA joined ISDA and four other trade bodies and wrote to the European Commission and European Supervisory Authorities to request they extend the current temporary derogations from clearing and margining requirements for intragroup transactions where at least one group entity is in a non-EU jurisdiction.
CONTINUE READINGFIA submitted a response to ESMA's consultation on September 30 on the draft Guidelines for derivatives reporting under EMIR that highlights key areas where additional clarity and guidance is required from ESMA to ensure consistent interpretation and implementation of reporting rules to enable improved data quality, accuracy and completeness of reported data under EMIR Refit.
CONTINUE READINGFIA released a policy paper outlining seven principles to guide the regulation of cross-border activity in the derivatives markets.
CONTINUE READINGMr. Lukken’s remarks are as prepared for delivery,
CONTINUE READINGFIA 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 READINGFIA 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).
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