Regulatory Guidance
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Resources regarding separate accounts of the same beneficial owner
March 31, 2021, is the deadline specified in the CFTC’s Supplemental Advisory and Time-Limited No-Action Relief Letter 20-28 (“NAL 20-28”) for Futures Commission Merchants (“FCMs”) and their clients to take certain steps with respect to margining of separate accounts with the same beneficial owner and related agreements.
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FIA releases surveillance and market abuse guidelines
London, UK – FIA today released new guidelines to assist market participants in fulfilling obligations set by UK and European regulators in relation to surveillance and market abuse requirements.
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FIA and SIFMA AMG Release Sample Provisions for FCM Customer Agreements for Separate Accounts
Drafted by representatives of both FIA and SIFMA AMG, the Sample Provisions are being preliminarily published by FIA and SIFMA AMG to provide all market participants with the opportunity to comment as part of the industry’s efforts to promote compliance with regulatory requirements.
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Trade associations publish best practices for derivatives trade reporting under EMIR
Developed by FIA, ISDA, EFAMA, EVIA, GFXD and GFMA, the best practices are available to all market participants to access and implement.
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FIA publishes guidance for European firms and third party algorithmic trading providers
MiFID II and recent supervisory guidance from the Financial Conduct Authority and Prudential Regulatory Authority require firms in scope of the rules to closely supervise their algorithmic trading systems, including the development, testing and deployment of such systems.
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FIA, ISDA, GFMA and EMTA joint briefing on the need to extend the transition period of the Benchmark Regulation
FIA, together with ISDA, GFMA and EMTA, published a briefing today requesting EU policymakers to extend the transition period of the Benchmarks Regulation for critical and non-critical benchmarks due to significant negative implications for financial stability in European and global financial markets and competitive disadvantages for European companies.
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FIA publishes implementation summary for MiFID II DEA requirements
FIA has published an implementation summary to help futures brokers and other market participants outside the European Union comply with the direct electronic access requirements under MiFID II that will come into effect in January.
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FIA publishes MiFID II and MiFIR compliance brief for U.S. FCMs
FIA has created a brief to help its members understand how the revised Markets in Financial Instruments Directive (MiFID II) and the associated Markets in Financial Instruments Regulation (MiFIR) may impact U.S. futures commission merchants (FCMs).
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Notice to Customers: Exchange for Related Positions
Certain futures exchanges permit eligible customers to enter into privately-negotiated off-exchange futures or option on futures transactions (collectively, “futures”) known as exchange for related positions (“EFRP”).
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FIA Special Report: Election aftermath - what to expect from the transition
Although the results of the Nov. 8 U.S. elections are not yet complete, all major news outlets have declared Donald Trump to be the winner of the presidential election, with Republican majorities in both the House of Representatives and the Senate.
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