Regulation of OTC derivatives: Amending the European Market Infrastructure Regulation (EMIR)
The European Market Infrastructure Regulation (EMIR – Regulation (EU) No 648/2012), adopted in 2012, forms part of the European regulatory response to the financial crisis, and specifically addresses the problems observed in the functioning of the 'over-the-counter' (OTC) derivatives market in the 2007-2008 period. In May 2017, after carrying out an extensive assessment of EMIR, the Commission proposed a regulation amending and simplifying it in the context of its Regulatory Fitness and Performance (REFIT) programme, to address disproportionate compliance costs, transparency issues and insufficient access to clearing for certain counterparties. A provisional agreement was reached in trilogue on 5 February 2019. Parliament voted to approve that agreement on 18 April 2019 in plenary session and the Council subsequently adopted it on 14 May. The new regulation comes into force on 17 June 2019. Third edition. The ‘EU Legislation in Progress’ briefings are updated at key stages throughout the legislative procedure.
Briefing
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Tipo de publicación
Autor
Ámbito político
Palabra clave
- análisis económico
- ASUNTOS FINANCIEROS
- contrato
- control administrativo
- DERECHO
- Derecho civil
- Derecho de la Unión Europea
- derivado financiero
- ECONOMÍA
- estudio de impacto
- instrumento financiero
- libre circulación de capitales
- mercado a plazo
- modificación de la ley
- poder ejecutivo y administración pública
- propuesta (UE)
- reglamentación financiera
- reglamento (UE)
- trabajos parlamentarios
- transacción financiera
- UNIÓN EUROPEA
- VIDA POLÍTICA