Simultaneously, the Forum filed a comment letter with the European Commission on its Regulatory Capital consultative document. The Association recently filed its first letter to the European Commission regarding regulation of ATS in Europe. The Association's letter to the European Commission offers the thoughts of TBMA to the commission in this regard, with a specific focus on alternative trading systems operating in the fixed-income market. The European Commission has proposed regulation that would require all EU companies listed on a regulated market, including banks, to use IAS in preparing consolidated accounts beginning no later than 2005. The proposal is one of the measures taken under the Financial Services Action Plan.
More information is available on the EUs Web site .
The Notes summarise amendments recommended by counsel in certain jurisdictions and indicate instances where the individual opinions do not cover the Agency Annex or any part of it. The Notes should not be regarded as constituting legal advice, nor be considered as an explanation of the issues raised in the legal opinions themselves in respect of the Agreement. It is based upon legal opinions issued by counsel in each of the jurisdictions and practical guidance given by counsel within such legal opinions. 2000 Global Master Repurchase Agreement TBMA and ISMA have published the revised 2000 GMRA and Guidance Notes and an Amendment Agreement for the 1995 version. Legal opinions supporting the 2000 GMRA are available for an array of jurisdictions where the GMRA is used for cross-border repurchase transactions.