Overview
Lobbying Costs
850,000€
Financial year: Jan 2019 - Dec 2019
Lobbyists (Full time equivalent)
2.5 Fte (10)
Lobbyists with EP accreditation
1
High-level Commission meetings
12
Lobbying Costs over the years
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Info
Futures Industry Association, Inc. (FIA)
EU Transparency Register
803137414612-21 First registered on 28 Oct 2014
Goals / Remit
FIA is the leading global trade organization for the futures, options and centrally cleared derivatives markets, with offices in London, Singapore and Washington, D.C. FIA’s membership includes clearing firms, exchanges, clearinghouses, trading firms and commodities specialists from more than 48 countries as well as technology vendors, lawyers and other professionals serving the industry. FIA’s mission is to support open, transparent and competitive markets, protect and enhance the integrity of the financial system, and promote high standards of professional conduct. As the principal members of derivatives clearinghouses worldwide, FIA's firms play a critical role in the reduction of systemic risk in global financial markets.
FIA seeks to sustain industry growth and enhance the integrity of markets and firms through the cycle of regulatory change. It works with members to maintain constructive dialogue with government and regulatory authorities and deliver high standards of i (...)Main EU files targeted
EMIR:(1) European regulation on OTC derivatives, central counterparties (CCPs) and trade repositories (TRs) – European Markets Infrastructure Regulation (EMIR). (2) Capital Requirements. (3) CCP Recovery & Resolution: The proposed Regulation will establish a legislative framework for the recovery and resolution of CCPs operating in the EU. The aim of the framework is to reduce the risk of a CCP failing and to establish procedures for the resolution of a CCP that has failed to limit impact on the financial system and on public funds.(4) MiFID/R and further developments; (5)Fintech and Cybersecurity: FIA has made cybersecurity a priority as the financial services sector and the critical infrastructures are dependent on safe and efficient systems; (6) Benchmark Regulation and further developments; and reporting initiatives like the EC’s check on supervisory reporting, and (7) impact on FIA members following the withdrawal of the United Kingdom from the European Union. (8) Investment Firm Review. (9) other European initiatives.
Address
Head Office
2001 Pennsylvania Avenue NW
Suite 600
Washington
UNITED STATESEU Office
Office 621
Square de Meeus 37
Brussels 1000
BELGIUM -
People
Total lobbyists declared
10
Employment time Lobbyists 25% 10 Lobbyists (Full time equivalent)
2.5
Lobbyists with EP accreditation
All Lobbyists with EP accreditation over time
1 accreditations were / are live (in bold) for the selected state of 26 Jan 2021
Name Start date End Date Mr Jean Pierre SALENDRES 17 May 2023 16 May 2024 Ms Corinna SCHEMPP 17 May 2023 16 May 2024 Ms Corinna SCHEMPP 11 Aug 2020 01 Sep 2021 Ms Corinna SCHEMPP 09 Aug 2019 08 Aug 2020 Ms Corinna SCHEMPP 26 Jul 2018 23 Jul 2019 Ms Corinna SCHEMPP 31 Aug 2017 26 Jul 2018 Complementary Information
We have 7 individuals as persons involved from FIA in influencing the EU decision making progress, which are directly or indirectly involved in the EU Transparency Register activity. In addition, we estimated the percentage of those 7 individuals and calculated the number of persons involved and the combined percentage of time spent on the register with 250%, which equates to 2.5 full time equivalents (FTE).
Person in charge of EU relations
Data not provided by Register Secretariat due to GDPR
Person with legal responsibility
Data not provided by Register Secretariat due to GDPR
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Categories
Category
II - In-house lobbyists and trade/business/professional associations
Subcategory
Trade and business associations
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Networking
Affiliation
None declared
Member organisations
None declared
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Financial Data
Closed financial year
Jan 2019 - Dec 2019
Lobbying costs for closed financial year
850,000€
Other financial info
1) Travel and accommodation:
We calculated the average travel costs of the 7 individuals travelling regarding the specific activities covered by the register to be a total of €30.165.56. This total includes the average price of travel and accommodation and subsistence costs to enable staff to meet with the European Commission or attend European Parliament workshops throughout 2019. This amount also includes any ad-hoc and miscellaneous expenses in relation to coffee and lunch meetings arranged throughout the year.
All calculations are in euros, we found the average yearly exchange rate for GBP to Euros – as of December 31st, 2019 at £1.00: €1.1815 (this statistic was taken from https://www.currency-converter.org.uk/currency-rates/historical/table/GBP-EUR.html)
2) Rent/office cost, etc:
The rent amount for our European offices, based in London (UK) and Brussels (BG) are as follows:
London office: £154.653.62
Brussels office: €21,754.68
An expense of £18,500.00 for office supplies has been registered as well.
The amount totalling is €198,266.05.
For all GBP calculation we took the average yearly conversion rate as outlined above (1.1815) to find the equivalent total in Euros. This equated to €198,266.05.
3) Average Salary:
The average salary for those 7 staff members (taking the respective percentages of hours involved) involved in advocacy work with the European Commission is £520,214– this amount was converted into euros using the average yearly conversion rate for 2019. According to (https://www.currency-converter.org.uk/currency-rates/historical/table/GBP-EUR.html) £1: 1.1815 euros
To covert the amount to euros we calculated £520,214 x 1.1815 = € 614,632.84
4) Consultancy costs (Freshfields Bruckhaus Deringer):
The cost for 2019 services amounted to $237,046.00 - we calculated 10% of the services provided to the EU Transparency register activity. This amounted to $23,704.60. The amount was converted into euros using the average yearly conversion rate for 2017. According to (https://www.currency-converter.org.uk/currency-rates/historical/table/GBP-EUR.html) $1: 0.89089 euros
To covert the amount to euros we calculated $23,704.60 x 0.89089 = €21,118.19
5) QED membership:
FIA are also members of QED which in 2019 cost us a total of €6,500.00. QED provides us with an opportunity to liaise and network with senior European Commission and European Parliament representatives at events, forums and workshops.
* The total cost of all financial information that must be entered is €870,682.65 and we entered the combined cost into the Transparency register under band 800,000 – 899,999. -
EU Structures
Groups (European Commission)
none
Groups (European Parliament)
N/A
Communication activities
None
Other activities
Participation in discussion and round tables with European institutions like the European Commission, European Parliament and European Supervisory Authorities like ESMA on EMIR, MiFID II/MiFIR developments, Benchmarks developments, capital requirements and other European regulatory initiatives.
- Meetings
Meetings
12 meetings found. Download meetings
The list below only covers meetings held since November 2014 with commissioners, their cabinet members or directors-general at the European Commission; other lobby meetings with lower-level staff may have taken place, but the European Commission doesn't proactively publish information about these meetings. For more information about which commissioner is responsible for which portfolio, check out this link: https://commissioners.ec.europa.eu/index_en All information below comes from European Commission web pages.
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Date 22 May 2023 Location Brussels Subject EMIR 3.0, MiFID II Review DG Financial Stability, Financial Services and Capital Markets Union Attending - John Berrigan (Director-General)
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Date 21 Sep 2022 Location virtual Subject Energy derivatives market Cabinet Cabinet of Commissioner Mairead Mcguinness Portfolio Financial services, financial stability and Capital Markets Union Attending - Mairead McGuinness (Commissioner)
- Florian Denis (Cabinet member)
Other Lobbyists -
Date 11 Jan 2022 Location Virtual meeting Subject Investment Firms prudential framework Cabinet Cabinet of Commissioner Mairead Mcguinness Portfolio Financial services, financial stability and Capital Markets Union Attending - Tommy De Temmerman (Cabinet member)
Other Lobbyists -
Date 11 Jan 2022 Location Video call Subject Investment Firms prudential framework Cabinet Cabinet of Executive Vice-President Valdis Dombrovskis Portfolio An Economy that Works for People Attending - Andrea Beltramello (Cabinet member)
Other Lobbyists -
Date 16 Mar 2021 Location Video Conferencing Subject Markets, Innovation and financial sustainability Cabinet Cabinet of Commissioner Mairead Mcguinness Portfolio Financial services, financial stability and Capital Markets Union Attending - Mairead McGuinness (Commissioner)
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Date 01 Feb 2021 Location Video Conferencing Subject Discussion on future relation with the Uk, equivalence decisions with the UK (equivalence under EMIR Art. 2a and derivative trading obligation), EMIR 2.2 and ESMA CCP Supervisory Committee. Cabinet Cabinet of Commissioner Mairead Mcguinness Portfolio Financial services, financial stability and Capital Markets Union Attending - Mairead McGuinness (Commissioner)
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Date 07 Dec 2020 Location virtual Subject MiFID II Cabinet Cabinet of Commissioner Mairead Mcguinness Portfolio Financial services, financial stability and Capital Markets Union Attending - Florian Denis (Cabinet member)
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Date 21 Oct 2020 Location Virtual meeting Subject UK CCPs DG Financial Stability, Financial Services and Capital Markets Union Attending - John Berrigan (Director-General)
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Date 26 Sep 2018 Location Brussels Subject EMIR - Brexit Cabinet Cabinet of Vice-President Valdis Dombrovskis Portfolio Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union Attending - Jan Ceyssens (Cabinet member)
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Date 28 Sep 2017 Location Brussels Subject EMIR review; CCP Recovery & Resolution; MiFID Cabinet Cabinet of Vice-President Valdis Dombrovskis Portfolio Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union Attending - Tatyana Panova (Cabinet member)
- Jan Ceyssens (Cabinet member)
- Elina Melngaile (Cabinet member)
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Date 08 Oct 2015 Location Brussels Subject MiFID 2 Cabinet Cabinet of Commissioner Jonathan Hill Portfolio Financial Stability, Financial Services and Capital Markets Union Attending - Mette Toftdal Grolleman (Cabinet member)
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Date 30 Jan 2015 Location Brussels Subject Introductory Meeting Cabinet Cabinet of Commissioner Jonathan Hill Portfolio Financial Stability, Financial Services and Capital Markets Union Attending - Jonathan Hill (Commissioner)
- Meetings