The European Market Infrastructure Regulation (EMIR) provides for cooperation arrangements between the European Securities and Markets Authority (ESMA) and the relevant non-EU authorities whose legal and supervisory frameworks for central counterparties have been deemed equivalent to EMIR by the European Commission.

ESMA agreed Memoranda of Understanding (MoUs) with the following Canadian regulators:

• the Alberta Securities Commission;
• the Autorité des Marchés Financiers of Québec;
• the Manitoba Securities Commission; and
• the Ontario Securities Commission (OSC).

ESMA has also agreed MoUs with the following Swiss regulators:

• the Swiss Financial Market Authority; and
• the Swiss National Bank.

The MoUs are effective as of 30 November 2015, except for the OSC where the respective MoU will enter into force in Ontario on endorsement by the respective Ministry in accordance with local legislation.

View ESMA to cooperate with Canadian and Swiss regulators on CCPS, 7 January