On September 19, 2016, the Joint Associations Committee on Retail Structured Products responded to the Financial Conduct Authority’s Consultation Paper CP16/18: Changes to disclosure rules in the FCA Handbook to reflect the direct application of the PRIIPs regulation. This JAC response was supported by ISDA, ICMA and GFMA and made several extensive points considered fundamental to the application of the PRIIPs regulation: highlighting the industry’s need for clarity on the scope of the PRIIPs regulation; and the need for tailoring certain of the requirements to accurately reflect the working of certain derivatives considered as PRIIPs and structured products so as not to mislead investors.
Documents (1) for JAC Response to FCA Consultation Paper on PRIIPS
Latest
Recognition of Cross-product Netting is Critical
US regulators are in the process of making important changes to the regulatory capital framework by proposing modifications to the enhanced supplementary leverage ratio, which should help stop it from acting as a non-risk-sensitive constraint on bank capacity – a...
ISDA, GFXD Response to FCA on SI Regime
On September 10, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association responded to the Financial Conduct Authority's (FCA) consultation paper CP25/20 on the systematic internalizer (SI) regime for derivatives and bonds. ISDA and the...
ISDA, IIF Response to PRA on Market Risk Framework
On September 12, ISDA and the Institute of International Finance (IIF) submitted a joint response to the Prudential Regulation Authority’s (PRA) consultation on adjustments to the market risk capital framework (CP 17/25). ISDA and the IIF strongly believe the market...
ISDA Response on Clearing Costs
On September 8, ISDA responded to consultation by the European Securities and Markets Authority (ESMA) on a draft regulatory technical standard on clearing fees and associated costs (article 7c(4) of the European Market Infrastructure Regulation (EMIR)). In the response, ISDA...