Eminence and other associations have requested a 60-day extension for commenting on the proposal to implement the Financial Data Transparency Act (FDTA). They argue that the complexities of the proposal, particularly the introduction of a common identifier for financial instruments, require more time for thorough analysis and feedback from their members. The associations emphasize that the current choice of the Financial Instrument Global Identifier (FIGI) raises concerns due to its limited usage and potential costs, as well as the need for a comprehensive economic analysis to assess its impact. They believe that additional time will ensure that the rulemaking process considers industry perspectives effectively.
