EMIR Refit - Publication of Regulation 2019/834
On 28 May 2019, the regulation (EU) 2019/834 amending EMIR about the clearing obligation, the suspension of the clearing obligation, the reporting requirements, the risk-mitigation techniques for OTC derivative contracts not cleared by a CCP, the registration and supervision of Trade Repositories (TRs) ("EMIR Refit") was published.
EMIR Refit entails major amendments to the current EMIR provisions, namely:
The expansion of the scope of EMIR to other entities (incl. AIFs, CSDs);
The exemption of financial counterparties whose OTC derivative positions do not exceed any threshold for offsetting their clearing obligation;
The limitation for non-financial counterparties of the clearing obligation to only those derivatives belonging to the asset class for which the clearing threshold is exceeded; and
The removal of the obligation of backloading (reporting of historic transactions requirements not outstanding on 12 February 2014).
Regulation 2019/834 came into force on 17 June 2019.
The European commission has agreed on the 8th of May about an entry into force of the settlement discipline regime on...
Since their definition in 2009 and their revision in 2012, the implementation of the European Market Standards for...
On 8 November 2019, the European Council adopted a set of legislative reforms relating to the Capital Markets Union. The...
On 7 October 2019, the European Union (EU) Council approved a Directive aimed to protect persons who report breaches...
On 2 September 2019, ESMA published the final guidelines on liquidity stress testing (LST) in UCITS and AIFs.