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FMIA meaning in Business ? |
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Answer» What is Financial Market Infrastructure Act mean? The Financial Market Infrastructure Act (FMIA), original title Finanzmarktinfrastrukturgesetz (FinfraG) is a body of Swiss legislation for the regulation of financial markets, in particular derivatives. It was originally adopted by the Swiss Federal Assembly on June 19, 2015 and came into force on January 1, 2016. The objective of the legislation is to reduce systemic counterparty and operational risk, and help prevent future financial system collapses. FMIA is intended as the Swiss equivalent to the regulatory packages in the U.S. and the European Union, such as Dodd–Frank and EMIR / MiFID, respectively. The FMIA regulations include requirements for reporting of derivative contracts and implementation of risk management standards. It also established common rules for central counterparties and trade repositories. The implementation of FMIA is overseen by FINMA. reference
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