Industry calls for suspension of IM compliance dates
Associations warn phase five deadline may no longer be possible for hundreds of buy-side firms amid Covid-19 disruption
Twenty industry associations have called for a delay in implementing the fifth wave of initial margin rules, warning it is no longer possible or practicable for firms to meet the September 1, 2020 deadline following widespread disruption caused by the spread of the coronavirus.
In a letter to the Basel Committee on Banking Supervision and International Organization of Securities Commissions, and copied to more than 50 national regulators and public bodies, the 20 associations asked for the
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