HM Treasury has published for feedback a draft statutory instrument to implement the revised provisions for CCPs in the European Market Infrastructure Regulation (known as EMIR 2.2.) into U.K. law once the Brexit...more
The European Securities and Markets Authority has launched a consultation on proposed procedural rules for penalties imposed on third-country CCPs, trade repositories and credit rating agencies. Responses are invited by...more
On February 19, EMSA published its 2018 annual report and 2019 work program relating to its supervision of credit rating agencies (“CRAs“), trade repositories (“TRs“) and its monitoring of third-country central clearing...more
The European Securities and Markets Authority has published proposed Guidelines on position calculation by trade repositories under the European Market Infrastructure Regulation. EMIR requires that derivatives contracts are...more
European investment managers of non-UCITs funds will have to be authorised as an alternative investment fund manager (known as an “AIFM” under AIFMD) under the Alternative Investment Fund Managers Directive (“AIFMD”) from 22...more
Following the European Securities and Markets Authority’s approval and registration of the first four trade repositories (TRs) in November 2013, counterparties to all types of over-the-counter and exchange-traded derivatives...more
The financial crisis highlighted a number of problems in global OTC derivatives markets, including transparency, counterparty credit risk and a consequent removal of market liquidity. International concerns about these...more