Futures Industry Association, Inc.

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Registration as it was on 26 Jan 2021
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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

  • 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 STATES
    EU Office
    Office 621
    Square de Meeus 37
    Brussels 1000
    BELGIUM
  • People

    Total lobbyists declared

    10

    Employment timeLobbyists
    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

  • Categories

    Category

    II - In-house lobbyists and trade/business/professional associations

    Subcategory

    Trade and business associations

  • Networking

    Affiliation

    None declared

    Member organisations

    None declared

  • 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.

    • 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)
    • 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)
    • 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)
    • 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)
    • Date 21 Oct 2020 Location Virtual meeting
      Subject UK CCPs
      DG Financial Stability, Financial Services and Capital Markets Union
      Attending
      • John Berrigan (Director-General)
    • 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)
    • 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)
    • 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)
    • 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)
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