FIA and ISDA: let national regulators do their jobs

Two influential derivatives trade bodies have questioned elements of a European Commission proposal that would centralise supervisory powers with pan-European securities watchdog ESMA, arguing that national supervisors have a “strong knowledge of local markets” and that the move seemed “premature”.

  • By Costas Mourselas
  • 25 Jan 2018

The September proposal was scrutinised by the Futures Industry Association and the International Swaps and Derivatives Association. It gives European Supervisory Authorities (ESAs) like ESMA more full-time employees for “direct supervisory tasks” and a greater role in supporting the European Commission on equivalence determinations, among other powers.

ESMA specifically ...

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