Industry association

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The Jolly Contrarian’s Glossary
The snippy guide to financial services lingo.™


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Those self-appointed keepers of the flames in the hearths of the different cottages that make up our industry. Traditionally thought of as bland, sleepy places, they are from time to time cast into the terrible glare of publicity, which generally doesn’t play out too well for them.

The Joint Chiefs of Staff

Fun fact: the collective noun for a group of industry associations — seldom used, because so rare and disconsolate are the circumstances in which they get together — is a “torpidity”. The most famous torpidity of all is the Joint Chiefs of Staff of the Industry Associations, an august body comprising personnel from usually-sworn-enemy organisations like ISDA, ICMA, ISLA and FIA, who convened for a beautiful moment of no-mans-land-Christmas-football in 2015 to formulate the Article 15 SFTR disclosure document, a fifteen-page, 5,000 word exercise in stating the bleeding obvious.[1]

See also

References

  1. Namely, that title transfer arrangements are arrangements involving the transfer of title.