Regulatory Affairs

Regulation can make the difference between markets that inspire confidence and markets that don’t. The WFE champions effective rules for the modern, global economy and its future growth.

Our unique perspective comes from uniting authorised exchanges and central counterparties (CCPs) worldwide. With extensive experience of developing and enforcing high standards, WFE members support an orderly, secure, fair and transparent environment for investors; for companies that raise capital; and for all who face risk. 

The WFE updates members on legislative developments. We analyse evidence, encourage debate and seek outcomes that maximise the common good. We also engage with major policymakers in an open, collaborative way, reflecting the central, public role that exchanges and CCPs perform in an internationally integrated financial system.

Editor's Pick

AI: the common-sense approach

Published: 25 Apr 2024
Summary • AI is not new. It has existed for approximately eighty years and has been used in financial services for decades. Gen AI is just the most recent form of AI. • The WFE is encouraged to see the CFTC taking a careful, considered approach to understanding the benefits, risks, and uses of AI within the financial services sector. • AI has a significant number of potential use cases that could bring efficiency gains, lower costs, increase productivity, generate revenues, and benefit the market as a whole. • Our members generally see AI use cases in three broad categories: 1) individual productivity, 2) operational efficiency and 3) new products. • The use of AI has also created specific risks that financial institutions must address. However, financial institutions and authorities must be clear on those specific risks and develop mitigation strategies to address these risks where possible. • The risk mitigation of AI in financial services is currently being executed through existing risk management frameworks. However, our members are further developing or using governance frameworks, training programmes, risk management protocols etc. around the use of AI.
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Regulatory Affairs, Technology

AI: the common-sense approach

Published: 25 Apr 2024
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Market integrity, Regulatory Affairs, Risk

WFE Response to IOSCO’s Consultation Report on Market Outages

Published: 01 Mar 2024
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Regulation, Regulatory Affairs, Regulatory Affairs, Risk

WFE Best Practice document on Emerging Risk Management

Published: 22 Dec 2023
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Clearing, Regulation, Regulatory Affairs, Regulatory Affairs

WFE response to FRB - capital rules for large banks

Published: 21 Dec 2023
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CCPs, Clearing, News, News & Views, Regulation, Regulatory Affairs, Regulatory Affairs, WFE News

WFE: CCP Governance Practices

Published: 15 Dec 2023
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CCPs, Clearing, News, News & Views, Regulation, Regulatory Affairs, Regulatory Affairs, WFE News

Response to the ESMA Call for Evidence on Shortening The Settlement Cycle in Europe

Published: 14 Dec 2023
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News, News & Views, Regulatory Affairs, Regulatory Affairs, WFE News

The Importance of Exchange Governance to Financial Markets

Published: 14 Dec 2023
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News, News & Views, Regulation, Regulatory Affairs, Regulatory Affairs, WFE News

WFE expresses support for IAASB’s efforts in creating ISSA 5000 

Published: 01 Dec 2023
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Clearing, Regulation, Regulatory Affairs, Regulatory Affairs

Response: FSB Financial Resources & Tools for CCP Resolution

Published: 20 Nov 2023
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Market structure, News, News & Views, Research, Research, Research, Technology, Technology

Blockchain Mining Power and Market Quality in Cryptocurrency Trading

Published: 31 Oct 2023
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Regulatory Affairs, Technology

WFE Welcomes IOSCO’s Recommendations on Decentralised Finance

Published: 19 Oct 2023
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Clearing, News, News & Views, Regulation, Regulatory Affairs, WFE News

WFE Response to the CFTC’s Request for Comment on the Impact of Affiliations of Certain CFTC-Regulated Entities

Published: 27 Sep 2023
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Features, News, News & Views, Regulation, Regulatory Affairs, Regulatory Affairs, WFE News

Financing the Future

Published: 18 Sep 2023
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Features, News, News & Views, Regulation, Regulatory Affairs, Regulatory Affairs, Sustainability, WFE News

Green Equity Principles & Guidance - Public call for comments

Published: 14 Sep 2023
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News & Views, Regulation, Regulatory Affairs, Regulatory Affairs, WFE News

The WFE expresses support for changes proposed by the OECD on State Owned Enterprises guidelines

Published: 13 Sep 2023
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Features, News, News & Views, Regulatory Affairs, Regulatory Affairs, WFE News

The WFE asks ISSB to focus on quality of reporting, nature, human rights and human capital

Published: 01 Sep 2023
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Features, News & Views, Regulatory Affairs, Regulatory Affairs

WFE says FSB’s approach to use of third parties should be positive, risk-based and outcomes-focused

Published: 25 Aug 2023
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News, Regulatory Affairs, Regulatory Affairs, WFE News

WFE Response: IOSCO Policy Recommendations for Crypto and Digital Asset Markets

Published: 31 Jul 2023
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Features, News, News & Views, Regulation, Regulatory Affairs, Regulatory Affairs, WFE News

WFE supports ISSB approach to International Applicability of the SASB Standards

Published: 28 Jul 2023
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News & Views, Regulatory Affairs, Regulatory Affairs, WFE News

WFE Response to FCA’s CP23/10 Consultation Paper

Published: 26 Jun 2023
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News, News & Views, Regulatory Affairs, Regulatory Affairs, WFE News

WFE Response to TNFD Beta v0.4 Framework Consultation

Published: 25 May 2023
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News, Regulatory Affairs, Regulatory Affairs, WFE News

WFE supports increasing transparency and competitive fairness in the US equities markets

Published: 30 Mar 2023
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Regulatory Affairs

WFE Response to the EU consultation on Listing Act

Published: 27 Mar 2023
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News, Regulatory Affairs, WFE News

The WFE Green Equity Principles

Published: 23 Mar 2023
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ESG, Regulatory Affairs, Regulatory Affairs, WFE News

WFE responds to IOSCO Compliance Carbon Markets - Consultation Report

Published: 08 Feb 2023
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ESG, Regulatory Affairs, Regulatory Affairs, WFE News

WFE responds to IOSCO Voluntary Carbon Markets - Discussion Report

Published: 08 Feb 2023
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Clearing, Regulatory Affairs

WFE Response: CFTC RFI on Climate-Related Financial Risks for CCPs

Published: 11 Oct 2022
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Clearing, Regulatory Affairs, Regulatory Affairs

WFE Response: CPMI-IOSCO Discussion Paper on CCP Practices for Addressing NDLs

Published: 11 Oct 2022
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Our Regulatory Affairs Team

Our Regulatory Affairs team brings experience and expertise in public policy, regulation and international relations. With more than 30 years of combined experience, it drives our advocacy programme. Through our work with and on behalf of our members, we help build and protect effective markets.

  • Richard Metcalfe

    Richard Metcalfe

    Head of Regulatory Affairs
  • Victoria Powell

    Victoria Powell

    Senior Manager – ESG, Regulatory Affairs
  • Chhavi Sinha

    Chhavi Sinha

    Manager, Regulatory Affairs
  • James Auliffe

    James Auliffe

    Manager, Regulatory Affairs
  • Charlie Ryder

    Charlie Ryder

    Manager, Regulatory Affairs
  • Simrita Lota

    Simrita Lota

    Manager, Regulatory Affairs