FIA, AIMA, EBF, EFAMA and ISDA have sent a letter urging the European Commission and European Supervisory Authorities to clarify that market participants are not required to implement the European Market Infrastructure Regulation (EMIR 3.0) Level 1 provisions prior to the date of application of the associated Level 2 regulatory technical standards (RTS).
CONTINUE READINGFIA and FIA EPTA have responded to the European Commission’s consultation on artificial intelligence, which sets out to identify the main use cases along with the benefits, barriers and risks related to the development of AI applications in the financial sector.
CONTINUE READINGFIA has published a paper outlining its views on how to support the progress of the European Union’s Capital Markets Union. The paper – Capital Markets Union at a Critical Juncture – sets out the role that derivatives play in effective capital markets. Specifically, FIA believes that centrally cleared derivatives are a key ingredient to building a strong CMU.
CONTINUE READINGFIA responded to the EBA-ESMA discussion paper on the European Commission call for advice on the investment firms' prudential framework, noting the importance of ensuring EU IFR/D is fit for purpose and that the application of prudential rules to commodity firms would be inappropriate, unduly complex, disproportionate and limit market entry for many small-size market participants.
CONTINUE READINGFIA, together with five other trade associations, has co-signed a joint statement that draws the European Supervisory Authorities’ attention to the challenges that industry participants, including financial entities as well as ICT third-party service providers, are facing regarding the implementation of DORA by the 17 January 2025 deadline.
CONTINUE READINGLondon and Washington, DC – FIA released a report on the challenges and opportunities facing the European listed derivatives markets on 18 June. The report is based on responses to a survey conducted recently by Acuiti, a market intelligence firm, that gauged industry sentiment regarding the key trends, opportunities and challenges facing the industry in Europe.
CONTINUE READINGFIA 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.
CONTINUE READINGFIA 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.
CONTINUE READINGFIA and several other trade associations have sent a letter to trilogue parties regarding proposed changes to Art. 9 of the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) concerning the supervision of third country firms. The associations urge legislators to adopt the least burdensome of the pending proposals, which would have third-country firms designate a representative to respond to requests for information. This contrasts with having to establish an office or move principal trading operations to the EU, which would create considerable market access barriers.
CONTINUE READINGRegulators and industry weigh EMIR 3.0 active account proposal, discuss market trends
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