Regulation of Financial Market Infrastructures (FMIs)

Financial Market Infrastructures (FMIs) are the core utilities of the financial system, encompassing payment systems, Central Counterparties (CCPs), and securities depositories. The rigorous regulation of these entities is essential to prevent systemic crises. This course provides an in-depth, legal and regulatory examination of the principles governing FMIs, centered on the internationally agreed **CPMI-IOSCO Principles for FMIs (PFMIs)**. Participants will learn how to apply these standards to various FMI types, analyze the legal foundations for risk mitigation, and understand the critical regulatory expectations for governance, risk management, and the recovery and resolution of systemically important FMIs.