On 10 November 2021, Mairead McGuinness, the European Commissioner for Financial Services, Financial Stability and Capital Markets Union announced a proposed way forward for central clearing, including European Union (EU) recognition of UK-based central counterparties (CCPs).
On Wednesday, December 15, from 12-2:30 pm ET, ICI will hold a virtual members-only meeting of the Derivatives Markets Advisory Committee. We are pleased to announce that our guest speakers will be Phil Hinkle, Partner, and Karen Stretch, Partner, Dechert LLP.
The Securities and Exchange Commission recently issued an exemptive order ("Final Order")[1] that provides conditional relief from certain provisions of the Securities Exchange Act of 1934 ("1934 Act") in connection with a program to portfolio margin customer and affiliate positions...
The President's Working Group on Financial Markets, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (the "Agencies") recently released a 23-page report on stablecoins ("report").
The UK Financial Conduct Authority (FCA) recently issued a consultation soliciting feedback on which legacy contracts and financial instruments it should permit to use the synthetic UK sterling and Japanese yen LIBOR rates and whether to prohibit most new uses of US dollar LIBOR after...
On September 29, the UK Financial Conduct Authority (FCA) issued a series of publications on its proposed approaches to the definition of tough legacy contract, the permitted use of synthetic UK sterling and Japanese yen LIBOR, and the prohibited new use of USD LIBOR, with limited...
On September 14, SEC Chair Gary Gensler testified before the Senate Banking, Housing, and Urban Affairs Committee as part of that committee's oversight of the SEC. His testimony covered four topics from the SEC's unified agenda: (i) funds and investment management; (ii) market...
On September 23, ICI joined several industry associations in submitting the attached letter to the SEC on the applicability of Rule 15c2-11 to the fixed income markets. The rule concerns the publishing of quotes for securities in OTC markets and requires broker-dealers to collect...
On 16 September 2021, ICI Global and several other trade associations wrote to Mairead McGuinness, European Commissioner for Financial Stability, Financial Services and Capital Markets, asking for an extension of the EU's temporary equivalence decision for UK CCPs which is due to...
ICI has filed a comment letter with the SEC on the proposed amendment to the Consolidated Audit Trail National Market System Plan ("CAT NMS Plan") to revise the CAT funding model. ICI recommends that the SEC disapprove the proposed amendment and encourage the SROs to work with...
