Our podcast series Split the difference explores divergence between the EU and UK regulatory regimes in the markets space. In the latest episode, Hannah Meakin, Anna Carrier, Georgia Karamani, Floortje Nagelkerke and Simon Lovegrove explore EMIR 3.0 and how the proposed new rules compare with the UK regime.
On 6 March 2024, there was published in the Official Journal of the EU (OJ) Commission Delegation Regulation 2024/818 of 28 November 2023 amending the regulatory technical standards laid down in Delegated Regulation (EU) No 153/2013 as regards the extension of temporary emergency measures on central counterparty collateral requirements. Commission Delegation Regulation 2024/818
On 27 February 2024, the European Securities and Markets Authority (ESMA) published a final report which takes into account the feedback provided by respondents to its earlier consultation paper on draft technical advice to the European Commission (Commission) on fees charged to Tier 1 third-country central counterparties (CCPs) under
On 14 February 2024, the Council of the EU published the final compromise text of the proposed Directive, amending Directives 2009/65/EU and (EU) 2019/2034, as regards the treatment of concentration risk on centrally cleared derivative transactions. An ‘I’ item note has also been published.
On 13 February 2024, the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report ‘Streamlining variation margin in centrally cleared markets – examples of effective practices’.
In September 2022, the Basel Committee on Banking Supervision, CPMI and
On 9 February 2024, the European Securities and Markets Authority (ESMA) published the official translations of its guidelines on the summary of resolution plans to be disclosed to central counterparties (CCPs) subject to resolution planning under Article 12(8) of Regulation (EU) 2021/23 on a framework for the recovery and resolution of
On 8 February 2024, the European Commission adopted a Delegated Regulation supplementing Regulation (EU) 2021/23 on a framework for the recovery and resolution of central counterparties (CCPRRR) regarding regulatory technical standards (RTS), specifying the minimum elements to be included in a business reorganisation plan and the criteria to be fulfilled for
On 7 February 2024, negotiators from the European Parliament’s Economic and Monetary Affairs Committee reached a provisional agreement with the Belgian presidency of the Council of the EU on a review of the European market infrastructure regulation and directive.
Main elements of the provisional agreement
The main elements of the provisional agreement are:
On 2 February 2024, the European Securities and Markets Authority (ESMA) published the official translations of following guidelines under Regulation (EU) 2021/23 on a framework for the recovery and resolution of central counterparties:
On 31 January 2024, the European Securities and Markets Authority (ESMA) published a report covering two topics: the cross border provision of services and the handling of passporting requests over three years (2020, 2021 and 2022). The report was published pursuant to Article 74(1) of the Central Securities Depositories Regulation which requires ESMA