On 27 May 2019, the European Securities and Markets Authority (ESMA) published an updated version of its Q&As on the implementation of the European Markets Infrastructure Regulation (EMIR). The updated Q&As contain:
- an amended Q&A on the procedure for financial counterparties and non-financial counterparties to notify that they exceed or no longer exceed clearing thresholds;
- an amended Q&A on the responsibility for the status of counterparties;
- an amended Q&A on the clearing obligation;
- a new Q&A on the clearing start date for ‘category 3 and 4’ (see articles 4a and 10 of EMIR);
- an amended Q&A on OTC derivatives novations; and
- an amended Q&A on the population of the field “clearing obligation”.