EMIR: ESMA recommends June 2023 start date for clearing obligation for pension funds

11 February in Uncategorized

ESMA has recently written to the EU Commission providing its views and recommendations on the clearing obligation for pension scheme arrangements (PSA). Following its assessment, ESMA has concluded that PSAs are operationally ready to clear their over the counter (OTC) derivatives but they should be given...

EFAMA – EFSA Joint Statement on EU Commission proposal for revised Market in Financial Instrument Regulation (MiFIR)

17 December in Uncategorized

EFAMA and EFSA  see great value in the creation of a consolidated tape to support Europe’s capital markets. However, they qualify that statement with a reminder that the framework for a successful consolidated tape should i) address the known market failure around market data costs, ii) manage...

EC McGuinness – opening remarks with ECON Committee in the EU Parliament

09 December in Uncategorized

Some key messages delivered by Commissioner McGuinness, on CMU, Central Clearing post-Brexit and Digital Finance Full text (and other topics) Capital Markets Union Last week’s CMU package implements a number of the measures in the 2020 Action Plan. We have four main elements. First, the European single access point...