Wednesday November 1 2017
News Source: Global Exchanges
Focus: Other
Type: General
Country: European Union
Link: //www.lchclearnet.com/rules-regulations/regulatory-responses
The London Clearing House and Clearnet SA (LCH) has responded to the European Commission’s Amendment Proposals for EMIR. In its Response LCH focused on issues such as changes to the Supervision of third-country CCPs.
The LCH was supportive in its response of the incoming changes, however, it requested that there be greater supervision of third country CCPS. LCH has encouraged further transparency in the decision making processes around Third Country CCPS. LCH believes that processes should determine the systemic importance of a third country CCP for the EU and the recognition of third country CCPs.
LCH believe these processes should enable the EU to refuse to grant or recognise a third country’s CCP status as per Article 25 (2c).
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