EACT Report on Regulatory Issues – October 2013
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The International Group of Treasury Associations Concludes Its 2013 Meeting
27th September 2013 – Washington, DC, USA
Focus on Harmonization of Worldwide Financial Regulations
Keynote Speech by U.S. Commodity Futures Trading Commission Chairman Gary Gensler
The International Group of Treasury Associations (IGTA: www.IGTA.org) concluded its 2013 meeting in Washington following an address by The Honorable Gary Gensler, Chairman of the U.S. Commodity Futures Trading Commission to the group on Friday morning September 27.
The focus of the meeting was on ...Continue Reading »
As many IACT members will be aware, some initial obligations under the European Market Implementation Regulation (EMIR) commence with effect from Friday, 15 March 2013. We attach a briefing note highlighting some of the key implementation dates relevant to non-financial counterparties.
The Association of Corporate Treasurers in the UK has also prepared a more general EMIR briefing note and a webinar. These can be accessed from the ACT website on the following link:
The Irish Association of Corporate Treasurers (IACT) appreciates the opportunity to comment on the ESMA “Draft Technical Standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories”.
The IACT supports the overall aim of the technical standards being the reduction of risk through the use of sound and resilient practices and appropriate risk mitigation techniques. However, we are concerned that there are a number of aspects of the proposals which, if applied in the context of a non financial counterparty ...Continue Reading »
On 25th June, the European Securities and Markets Authority (ESMA) published its draft proposals for improving the functioning of the derivatives markets in the European Union. The European Markets Infrastructure Regulations (EMIR) aim to reduce risk through the use of sound and resilient central clearing firms, increase transparency through mandatory trade notification mechanisms and reduce counterparty risk through appropriate risk mitigation techniques.
This members’ update is for general information only and ...Continue Reading »