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).
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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.
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On November 11, the European Securities and Markets Authority (ESMA) published three sets of technical advice on tiering, comparable compliance and fees charged to third-country central counterparties (TC-CCPs). The advice is directed towards the European Commission (EC) and concerns the revised European Market Infrastructure Regulation (EMIR 2.2).

Continue Reading ESMA Publishes Technical Advice for Third-Country CCPs

On October 3, the European Securities and Markets Authority (ESMA) published a Consultation Paper (the Paper) on Draft Technical Advice on the provision of clearing services on a fair, reasonable, non-discriminatory and transparent (FRANDT) basis pursuant to the European Market Infrastructure Regulation (EMIR).

Continue Reading ESMA Consults on Technical Advice on FRANDT Terms for Providing Clearing Services