ISDA has responded to a consultation by the UK Financial Conduct Authority (FCA) to introduce a new mechanism to officially recognize industry written codes of conduct in unregulated markets and on the extension of FCA Principle 5 for Businesses (a firm must observe proper standards of market conduct) to cover unregulated activities.
ISDA welcomes the FCA’s intent to encourage codes of conduct, but highlights several concerns with the recognition framework as proposed – for example, on the need to clarify the FCA approach to supervision and enforcement, as well as on the voluntary nature of codes of conduct.
Click on the PDF to read the full response.
Documents (1) for ISDA Responds to FCA Consultation on Codes of Conduct
Latest
ISDA In Review – March 2025
A compendium of links to new documents, research papers, press releases and comment letters published by ISDA in March 2025.
Updated OTC Derivatives Compliance Calendar
ISDA has updated its global calendar of compliance deadlines and regulatory dates for the over-the-counter (OTC) derivatives space.
A Positive Step to Improve the FRTB in the EU
As the Basel III capital reforms are finalized for implementation in key jurisdictions, ISDA is maintaining a laser focus on making sure the rules are robust and risk-appropriate. Simply put, if capital requirements are set disproportionately high, this will have...
Trading Book Capital: Scott O'Malia Remarks
Trading Book Capital: Policy Challenges for the EU 2024-2029 Mandate March 25, 2025 Welcoming Remarks Scott O’Malia ISDA Chief Executive Officer Good morning and welcome to ISDA’s trading book capital event. It’s great to be here in Brussels and...