On September 24, the European Securities and Markets Authority (ESMA) published a consultation paper examining transaction reporting and reference data obligations under the Market in Financial Instruments Regulation (MiFIR) (the Consultation Paper).
Continue Reading ESMA Publishes Consultation Paper on MiFIR Reference Data and Transaction Reporting

On September 21, the European Commission (Commission) adopted a time-limited decision to provide financial market participants 18 months within which they should reduce their exposure to UK central counterparties (CCPs) (the Decision).
Continue Reading EU Commission Adopts Time-Limited Decision for Continued Access to UK Central Counterparties

On July 14, the European Commission (the Commission) adopted several implementing and delegated acts relating to central counterparties (CCPs) established in third countries (TCs) under the so-called “EMIR 2.2” revisions to the European Market Infrastructure Regulation (the Delegated Acts).
Continue Reading European Commission Adopts EMIR 2.2 Provisional Delegated Acts

On July 9, the European Securities and Markets Authority (ESMA) published a consultation (the Consultation) regarding draft guidelines (the Guidelines) on the calculation of positions by trade repositories (TRs) under the Securities Financing Transactions Regulation (SFTR).
Continue Reading ESMA Consults on Guidelines for Calculating Positions under SFTR

On June 23, the House of Commons published a statement made by the UK Government on its approach to implementing financial services regulatory reforms before the end of the Brexit transition period (the Statement).
Continue Reading Brexit: UK Government Statement on Implementing Regulatory Reforms

On June 11, the European Commission (the Commission) published two consultations in relation to the proposed delegated acts (Delegated Acts) on tiering and comparable compliance (the Tiering Consultation and the Comparable Compliance Consultation, together the Consultations) for third-country central counterparties (TC CCPs) as part of its review of the European Market Infrastructure Regulation (EMIR).
Continue Reading European Commission Publishes Consultation on Delegated Acts under EMIR

On March 24, a draft copy of the Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment etc. and Transitional Provision) (EU Exit) Regulations 2020 (the Regulations) was published and laid before Parliament with an explanatory memorandum.
Continue Reading UK Parliament Considers Draft Brexit Statutory Instrument Relating to EMIR

On February 26, Fabio Panetta, Executive Board Member at the European Central Bank (ECB), gave a speech on cross-border co-operation within the central counterparty (CCP) community. The speech was given at the Second Joint Bundesbank/ECB/Federal Reserve Bank of Chicago Conference on CCP Risk Management.
Continue Reading ECB Speech on Central Clearing