Tuesday December 3 2013
News Source: Global Exchanges
Focus: Derivative Market Segment
Type: General
Country: International
Link: http://www.iosco.org/committees/aprc/pdf/20131122_APRC_letter_to_EU.pdf
The Chairman of the International Organization of Securities Commissions (IOSCO) Asia Pacific Regional Committee has written to EU Commissioner Michel Barnier and the Chair of the European Securities and Markets Authority (ESMA) regarding the recognition process for Asia Pacific central counterparties (CCPs) under the European Market Infrastructure Regulation (EMIR). Amongst other things, the letter states that further guidance on certain matters would be useful in order to provide greater clarity about the process of non-EU CCP recognition, including further detailed information on:
the contents, effect and purpose of the memorandum of understanding (MoU) with ESMA, including requirements from home regulators, and the procedures for finalising the MoU; andthe approach to equivalence assessments for jurisdictions that are not currently covered by reports of technical advice on third country regulatory equivalence under EMIR published by ESMA.
Click on the above link for more details.