News Centre

Living Wills For Clearing Agencies, SEC Commissioner Jaime Lizárraga, May 17, 2023

Date 17/05/2023

In 2010, Congress passed, and President Obama signed into law, the Dodd-Frank Wall Street Reform and Consumer Protection Act. This law was enacted to overhaul and strengthen oversight of our financial system and to reduce the likelihood of a future 2008-like financial crisis, the worst of its kind since the Great Depression.

ISDA: Liquidity And Risk Management In Single-Name CDS And Implications For MIFIR

Date 17/05/2023

On April 27, ISDA finalized a paper addressing recent concerns about clearing, illiquidity and opacity of single-name credit default swaps (CDS). The paper includes analysis of US rules and data underpinning an outline for a workable transparency regime for single-name CDS, balancing both liquidity and transparency.

Covered Clearing Agency Resilience And Recovery And Wind-Down Plans, Haoxiang Zhu, SEC Director, Division Of Trading And Markets, May 17, 2023

Date 17/05/2023

Good morning Chair Gensler and Commissioners Peirce, Crenshaw, Uyeda, and Lizarraga.

Statement On Clearinghouse Resiliency, Recovery, And Wind-Down, SEC Chair Gary Gensler, May 17, 2023

Date 17/05/2023

Today, the Commission considers a proposal to help ensure the continuity of clearing services during times of significant stress. I am pleased to support the proposal because, if adopted, it would help enhance the resiliency of this part of our market plumbing, which is fundamental for the capital markets to operate.

SEC: Covered Clearing Agency Resilience And Recovery And Wind-Down Plans - Elizabeth Fitzgerald, Assistant Director, Division Of Trading And Markets, Office Of Clearance And Settlement

Date 17/05/2023

Thank you, Haoxiang.

Good morning Chair Gensler and Commissioners.

BIS - Crypto, Tokens And DeFi: Navigating The Regulatory Landscape

Date 17/05/2023

Policymakers face challenges in addressing the risks posed by cryptoassets and related activities due to their potential to affect consumer protection, financial stability and market integrity. This paper provides an overview of policy measures taken in 19 jurisdictions to address the risks associated with activities that incorporate cryptoassets and distributed ledger technology (DLT) programmability capabilities in financial services. The paper classifies policy measures into three categories and identifies different types of initiatives across jurisdictions, including bans, restrictions, clarifications, bespoke requirements, and initiatives to facilitate innovation.

Getting Inflation Back To The 2% Target − Speech By Andrew Bailey, Governor, Bank Of England, Given At British Chamber Of Commerce Annual Conference

Date 17/05/2023

I am very pleased to be here today at the BCC’s ‘Building British Business’ Global Annual Conference.

ACER Has Published A Consultancy Study On Cost-Benefit Analysis For Hydrogen Networks

Date 17/05/2023

The published VIS study:

• Assesses existing cost-benefit analysis (CBA) documents and technical-economic assessments for hydrogen infrastructure;
• Reviews hydrogen transportation plans and supply/demand targets in selected EU Member States;
• Identifies market and network conditions justifying building hydrogen infrastructure; and
• Provides recommendations to ENTSOG for a CBA methodology for hydrogen infrastructure consistent with the CBA methodologies used for other types of energy infrastructure projects.

ESMA Calls For Legislative Amendments To Prevent Undue Costs In Funds

Date 17/05/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published an Opinion to the European Commission with suggested clarifications of the legislative provisions under the UCITS Directive and the AIFMD relating to the notion of “undue costs”.

ESMA Appoints A New Member And Reappoints Two Members To Its Management Board

Date 17/05/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has appointed one new member and reappointed two members to its Management Board. The election took place at the Board of Supervisors meeting in Stockholm, on 17 May and the new member will take up their position on 1 July 2023.