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25 September 2012

IMA(英国投資運用業協会)は全ての投資会社の破たん処理の権限を当局に与えるという英国財務省の提案には反対する一方、CCP(中央清算機関)に対する規制は支持すると回答


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In its response to HM Treasury on the 'Financial Sector Resolution: Broadening the Regime Consultation', the Investment Management Association (IMA) disagrees with the extension of resolution powers to all investment firms.


The trade body, which represents the UK asset management industry, raises questions over why some agency managers should be included, especially as the EU has not adopted this approach. However the IMA fully supported the introduction of legislation for CCPs (Central Counterparty Clearing Houses) ahead of the EU, stating that all CCPs should be considered systemic.

Guy Sears, IMA’s Wholesale Director, said: “HMT should be applauded for proposing a resolution regime for CCPs ahead of Europe. Given the UK’s position as a global asset management centre, the protection of client positions and margin must be a key objective of any new regime. But we disagree with the proposal to extend the resolution regime to firms not contemplated by the European proposals. Given the cost involved in preparing recovery and resolution plans, HMT have cast the net too wide by including agency asset managers. They are already proportionately regulated in the UK in relation to wind-down planning and their international competitiveness must not be diminished by overly cautious thinking on systemic risk.”

Press release with link to full letter



© IMA


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