As the trusted party at the center of the global FX ecosystem, we proactively partner with regulators, governmental bodies, industry groups and market participants to monitor, assess and respond to policy and regulatory developments which have an impact on our mission to mitigate systemic risk.
Our regulatory response professionals
We monitor the potential impact of external developments from regulators, governmental bodies and industry groups on CLS’s mission through our dedicated global team. Our dedicated team of regulatory response professionals:
Consultation responses
Our unique position means we are well placed to provide comment in response to any external developments from regulators, governmental bodies and industry groups on industry issues. It also means we can offer a unique perspective on what is happening in the FX market through our broad-based market information.
| Consultation paper | Date | Consultation | CLS response |
|---|---|---|---|
|
GFXC Request for Feedback: Amendments to the FX Global Code
|
May 2021 | Download | |
| Financial Stability Board: Regulatory, Supervisory and Oversight Challenges Raised by “Global Stablecoin” Arrangements | July 2020 | Download | Download |
|
Financial Stability Board: Public Disclosures on Resolution Planning and Resolvability
|
August 2019 | Download | Download |
|
Federal Reserve Board: Potential Modifications to the Operating Hours of the Fedwire Funds Service
|
May 2019 | Download | Download |
| Federal Reserve Board: Potential Actions to Support Interbank Settlement of Faster Payments | December 2018 | Download | Download |
| Federal Reserve Board and FDIC: Resolution Planning Guidance for Eight Large, Complex U.S. Banking Organizations | September 2018 | Download | Download |
| Department of Finance Canada: Consultation on the Review of the Canadian Payments Act | May 2018 | Download | Download |
| Payments Canada: Modernization Target State Consultation | February 2018 | Download | Download |
|
Financial Stability Board Consultative Document: Funding Strategy Elements of an Implementable Resolution Plan
|
February 2018 | Download | Download |
|
CPMI Discussion Note: Reducing the risk of wholesale payments fraud related to endpoint security
|
November 2017 | Download | Download |
|
UK House of Lords Inquiry into Financial Regulation and Supervision Following Brexit: Call for Evidence
|
October 2017 | Download | Download |
|
Financial Stability Board: Guidance on Continuity of Access to FMIs for a Firm in Resolution
|
December 2016 | Download | Download |
|
Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation Joint Advance Notice of Proposed Rulemaking (ANPR): Enhanced Cyber Risk Management Standards
|
October 2016 | Download | Download |
|
Bank of England Consultation Paper: Draft Code of Practice and Supervisory Statement relating to governance in recognised payment system operators
|
September 2016 | Download | Download |
|
PRA Consultation Paper (CP25/16): The implementation of ring-fencing: reporting and residual matters
|
July 2016 | Download | Download |
| Consultation Paper (P004-2016): Proposed Legislative Amendments to Enhance the Resolution Regime for Financial Institutions in Singapore | April 2016 | Download | Download |
|
CPMI-IOSCO Consultative Report: Guidance on cyber resilience for financial market infrastructures
|
November 2015 | Download | Download |
|
Federal Reserve Proposed Supervisory Rating System for Financial Market Infrastructures
|
November 2015 | Download | Download |
| FSB Consultative Document: Guiding principles on the temporary funding needed to support the orderly resolution of a globally systemically important bank | November 2015 | Download | |
|
FFIEC Cybersecurity Assessment Tool
|
June 2015 | Download | Download |
|
Consultation Paper (P011-2015): Proposed Enhancements to the Resolution Regime for Financial Institutions in Singapore
|
June 2015 | Download | Download |
|
FSB Second Thematic Peer Review: Resolution Regimes
|
January 2015 | Download | Download |
|
Second Consultation Paper: Effective Resolution Regime for Financial Insitutions in Hong Kong
|
January 2015 | Download | Download |
|
NYSDFS Revised Proposed Regulations Regarding Virtual Currencies (23 NYCRR Chapter 1, Part 200)
|
February 2015 | Download | Download |
| EBA Consultation Paper (EBA/CP/2014/46): Draft Regulatory Technical Standards on Resolution Colleges under Article 88(7) of Directive 2014/59/EU | December 2014 | Download | Download |
|
BCBS Consultation: Corporate governance principles for banks
|
October 2014 | Download | Download |
|
PRA Consultation Paper (CP19/14): The implementation of ring-fencing: consultation on legal structure, governance and the continuity of services and facilities
|
October 2014 | Download | Download |
|
FSB Consultative Document: Cross-border recognition of resolution action
|
September 2014 | Download | Download |
|
NYSDFS Proposed Regulations Regarding Virtual Currencies (23 NYCRR Chapter 1, Part 200)
|
July 2014 | Download | Download |
|
Consultation Paper: an Effective Resolution Regime for Financial Insitutions in Hong Kong
|
January 2014 | Download | Download |
|
PFMI Reg HH CLS Comment Letter 3.31.2014.pdf
|
January 2014 | Download | |
|
CPSS IOSCO Consultative Report: Assessment Methodology for Oversight Expectations Applicable to Critical Service Providers
|
December 2013 | Download | |
|
CPSS-IOSCO Consultative Report: Recovery of Financial Market Infrastructures
|
August 2013 | Download | Download |
|
Draft Regulation of the European Central Bank on Oversight Requirements for Systemically Important Payment Systems
|
June 2013 | Download | Download |
|
ESMA Discussion Paper: The Clearing Obligation under EMIR
|
July 2013 | Download | Download |
|
Basel Committee on Banking Supervision (BCBS) Second consultation: Margin requirements for non-centrally cleared derivatives
|
March 2012 | Download | Download |
|
European Commission Directorate General Internal Market and Services: Consultation on a possible recovery and resolution framework for financial institutions other than banks
|
October 2012 | Download | Download |
|
Basel Committee on Banking Supervision (BCBS): Supervisory guidance for managing risks associated with the settlement of FX transactions
|
August 2012 | Download | Download |
|
BCBS and the Board of the International Organization of Securities (IOSCO): Margin requirements for non-centrally-cleared derivatives
|
July 2012 | Download | Download |
Building buy-side momentum in an evolving FX ecosystem
Société Générale goes live on CLS’s cross currency swaps service
The importance of PvP in an everchanging FX ecosystem
CLS speaks to e-Forex about the issues facing FX market participants
Navigating the T+1 Transition: the FX impact on the asset management community
Barclays Bank goes live on CLS’s Cross Currency Swaps service
Tackling FX settlement risk: the power of public-private partnerships
The ripple effect of US T+1 settlement
The growth of CLSNet, the next best thing after CLSSettlement
The continued rise of CLSNet: A new chapter in FX market efficiency
CLS adds three clients to its cross currency swaps service
Cross-border payments interoperability and extension taskforce
The optimal model for mitigating FX settlement risk