Events listed in [AFME] Association for Financial Markets in Europe
UK bonds consolidated tape is a major milestone for the UK – AFME responds to ...
ID 24968
AFME has responded to the FCA consultation paper CP23/15 regarding the Framework for a UK Consolidated Tape. As a reminder, the FCA has proposed a framework for a UK CT to improve market data quality and transparency, starting with bonds and later including equity and derivatives. It suggests a single provider per asset class chosen through competitive tendering, free data submission, and a price ...
AFME says actions to strengthen resilience are paying off in response to 2023 ...
ID 24443
AFME has responded to the EU-wide stress test results released by EBA. AFME, representing its member banks that participated in the test, noted the positive outcomes and credited the strengthening of the EU banking sector’s resilience through combined efforts of banks and regulators. Key points highlighted by AFME regarding the stress test results included: – Improvement in Capital Depletion: The stress test results showed ...
Banks call for effective solution to enable sustainability reporting for financial ...
ID 24067
AFME has responded to the EC’s consultation on the ESRS (eventid=21472). The ESRS aims to improve the availability of sustainability information, reduce information gaps, and enhance the usability of the EU sustainable finance framework. AFME emphasizes the need to strike a balance between streamlining reporting obligations and strengthening disclosures to counter greenwashing and enable financial institutions to fulfill their own reporting requirements and make ...
Decentralised Finance – Principles for building a robust digital economy
ID 24059
AFME has published a white paper discussing principles for building a robust digital economy in DeFi. AFME emphasizes the importance of developing a foundational taxonomy classification mechanism for DeFi and digital assets, encouraging further research and global cooperation to determine appropriate regulatory solutions. They highlight the need to leverage existing processes and frameworks to create a holistic regulatory perimeter and provide recommendations, including **req ...
AFME welcomes UK Consolidated Tape proposal
ID 24042
AFME has welcomed the FCA’s proposal to consult the industry on reforms aimed at improving markets and increasing competitiveness, particularly the introduction of a UK consolidated tape (eventid=22070) The CEO of AFME, Adam Farkas, appreciates the focus on having a single consolidated tape provider per asset class, which is intended to reduce data costs and address the current fragmentation of post-trade transparency data. The ...
AFME calls on negotiators to consider serious outstanding issues in CSDDD
ID 24027
AFME has released a position paper urging negotiators to address important concerns in the CSDDD. AFME emphasizes the need for a practical and appropriate regulatory approach that considers the interests of financial institutions. They highlight several key issues that need attention during the trilogue negotiations: – Value chain: AFME suggests limiting due diligence requirements to upstream direct business relationships to avoid challenges associated with ...
AFME comments on outcome of MiFIR negotiations
ID 23913
AFME has commented on the outcome of the negotiations regarding the MiFIR file. While AFME acknowledges the achievement of reaching a political agreement on this important regulation, they express concerns about certain aspects of the deal that may lead to suboptimal outcomes. AFME particularly regrets the loss of the opportunity to create a real-time equity consolidated tape with sufficient pre-trade information, which could have ...
AFME comments on EU Financial Data Access and Payment Services Policy Proposals
ID 23904
AFME has provided its perspective on the EC’s legislative proposals on FIDA and Payment Services (review of the PSD and the new PSR) (eventid=21815). AFME sees these proposals as opportunities for the financial services sector to access new data sets, drive innovation, and enhance the efficiency of the payments system. AFME emphasizes the importance of reasonable compensation for data within the FIDA framework. They ...
AFME welcomes EU political agreement on the implementation of the Basel 3 ...
ID 23897
AFME has expressed its support for the recent political agreement reached by the EP, EC, and EC regarding the implementation of Basel III standards in Europe. AFME acknowledges the significance of this agreement in concluding the regulatory repair program initiated after the financial crisis. It believes that the agreement will strengthen banks‘ resilience and recognizes their crucial role in financing the economy. AFME commends ...
AFME welcomes CSDR political agreement
ID 23896
AFME has expressed its approval of the political agreement reached between the European Council and EP regarding the CSDR. In the agreement, mandatory buy-ins are seen as a last resort measure, to be activated only if settlement levels in the EU have not improved and are considered to pose a risk to financial stability. AFME supports a focus on alternative tools to enhance settlement ...