Publications & Filings
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FIA cautions CFTC on regulation of AI
FIA has urged the CFTC to take a "technology-neutral" approach and focus on "outcomes and use cases" rather than the technology itself. FIA also urged the CFTC to consider the applicability of its existing rules and regulations before presupposing that new, AI-specific regulations are needed.
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FIA responds to CFTC proposed rulemaking on FCM separate account margining
FCMs are currently relying on no-action relief that allows them to separately margin accounts of the same beneficial owner. This rule marks the second attempt by the CFTC to codify that relief. FIA’s letter asks the CFTC to codify the relief as written without laying on additional highly prescriptive requirements that limit FCM discretion to risk manage accounts.
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FIA responds to CFTC Foreign Boards of Trade proposed rulemaking
Under current rules, US-based commodity pool operators, commodity trading advisers, futures commission merchants and prop firms can directly access Foreign Boards of Trade. The pending rule would include US-based introducing brokers among the permissioned registrants. FIA’s letter supports the proposed expansion, noting that adding introducing brokers to the mix should provide more brokerage options for US customers and promote liquidity in foreign products.
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FIA responds to FICC access and segregation proposals
FIA has responded to the Fixed Income Clearing Corporation’s proposals to revise its customer clearing access models and to modify its margin segregation rules in order to implement the SEC’s new clearing mandate for U.S. Treasuries. FIA's response identifies conflicts between the proposed access structures and CFTC rules to which FCMs are subject.
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FIA responds to JSCC consultation on initial margin and clearing fund calculation methods
FIA has submitted a response to the Japan Securities Clearing Corporation’s consultation, which proposes to introduce stress add-on initial margin charges and a partial revision of the clearing fund calculation method in its listed financial derivatives clearing service.
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FIA calls on international regulators to continue progress on margin transparency
FIA has filed a letter with international standard-setting bodies urging further progress on efforts to increase the resilience of global derivatives markets in times of stress. The letter was submitted in response to a consultation on initial margin requirements in centrally cleared derivatives markets that was issued by Basel Committee on Banking Supervision (BCBS), the Bank for International Settlements' Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO).
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European T+1 Industry Task Force responds to UK report
FIA has joined several industry associations in welcoming a recent UK report on moving to T+1 settlement.
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FIA responds to CFTC proposal on FCM operational resilience framework
FIA has submitted a response to the CFTC’s proposed rule requiring an operational resilience framework for futures commission merchants.
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FIA responds to FCA, BoE draft guidance on UK EMIR reporting requirements
FIA has responded to the UK Financial Conduct Authority and Bank of England’s consultation setting out draft questions and answers as guidance to support the implementation of revised UK EMIR reporting requirements that go live on 30 September 2024.
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FIA joins response to BCBS consultation on bank exposures to cryptoassets
FIA has joined with several other trade associations in responding to the Basel Committee on Banking Supervision’s (BCBS) consultative document on amendments to its standard for bank exposures to cryptoassets.
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