Michael Syn, head of equities at Singapore Exchange, writes that market mechanisms, if designed in the right way, can help businesses bring innovation and creativity to the challenge of addressing climate change
CONTINUE READINGIn the report “Central counterparty default management auctions – Issues for consideration", the Committee on Payments and Market Infrastructures (CPMI) and the Board of the International Organization of Securities Commissions (IOSCO) described issues for further industry work to consider the design and conduct of default management auctions. This paper, developed by CCP12, EACH, FIA, and ISDA, addresses several terminology and operational issues where there is broad industry consensus to support further development.
CONTINUE READING50,000 trees will be planted each year offsetting an estimated 10,000 tons of CO2
CONTINUE READINGThe FIA European Principal Traders Association (FIA EPTA) appreciates the opportunity to provide feedback to the Financial Conduct Authority (FCA) on its second Consultation Paper regarding the implementation of the new UK prudential regime for MiFID investment firms. This document constitutes FIA EPTA’s response to the FCA’s Consultation Paper on a new UK prudential regime for MiFID investment firms (CP21/7).
CONTINUE READINGOn 28 May 2021, FIA responded to the second FCA consultation on a new UK prudential regime for MiFID investment firms (CP21/7).
CONTINUE READINGFinancial services firms that fail to do so risk underperformance relative to those that do, writes Douglas E Harris, senior adviser at Promontory Financial Group.
CONTINUE READINGFIA submitted comments to China’s National People’s Congress in support of the new draft Futures Law, noting this historic milestone will help to develop a more robust and liquid futures market for both Chinese and international customers.
CONTINUE READINGThe Associations consider that supervisory convergence and the removal of cross-border impediments should be the primary focus of the ESAs. Should further direct powers be considered for ESMA, the Associations support a targeted approach and suggest several areas where ESMA has a strong and direct role to play. The Associations have been fully supportive of the creation of the ESAs, which have played a crucial role in developing EU financial markets and we applaud the ESAs for all their achievements over the past 10 years. The ESAs will continue to be vital in the furtherance of an effective Capital Markets Union (CMU), and we will be working closely with the European Commission and the ESAs on an ongoing basis to continue to evolve safe and efficient EU capital markets.
CONTINUE READINGFIA, ISDA and FIA EPTA have jointly responded to the European Commission's targeted consultation on the functioning of the European Supervisory Authorities, which seeks to take stock of supervisory convergence and how the EU’s single rulebook works in practice. The results of the consultation will feed into a report reviewing the ESAs.
CONTINUE READINGFIA has responded to the European Commission’s consultation on the Implementing Regulation to extend the qualifying central counterparty (QCCP) transitional period under the Capital Requirements Regulation II (CRR). FIA fully supports the extension, which will avoid disruption to international financial markets.
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