Review of the European Market Infrastructure Regulation (EMIR): Updated rules on supervision of central counterparties (CCPs)
The increasing importance of central counterparties (CCPs), and challenges such as the United Kingdom's withdrawal from the EU, call for a more comprehensive supervision of CCPs in EU and non-EU countries to secure financial market infrastructure and build confidence. In June 2017, the Commission proposed amendments to Regulation (EU) No 1095/2010 (ESMA – European Securities and Markets Authority) and Regulation (EU) No 648/2012 (EMIR – European Market Infrastructure), to strengthen the regulatory framework. Under the proposals, EU CCPs would be supervised by national authorities in agreement with ESMA, and third-country CCPs subject to different requirements depending on whether (or not) they are systemically important. Following trilogue negotiations, Parliament voted on the resulting agreement at its plenary session of 18 April 2019. The final act was signed on 23 October 2019 and entered into force on 1 January 2020. Third edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.
Briefing
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Publication type
Author
Keyword
- BUSINESS AND COMPETITION
- consumer information
- consumption
- credit guarantee
- disclosure of information
- documentation
- EDUCATION AND COMMUNICATIONS
- EP Committee
- EU institutions and European civil service
- European Securities and Markets Authority
- EUROPEAN UNION
- European Union law
- FINANCE
- financial derivative
- financial institutions and credit
- financial regulation
- financial risk
- financing and investment
- free movement of capital
- information and information processing
- information technology and data processing
- insurance
- insurance
- international affairs
- international agreement
- INTERNATIONAL RELATIONS
- management
- proposal (EU)
- provision of documents
- public finance and budget policy
- regulation (EU)
- regulation of investments
- risk management
- TRADE