EUROPE: ESMA publishes EMIR equivalence report for Australia

Wednesday October 2 2013

The European Securities and Markets Authority (ESMA) has published a supplement to the Final report Technical advice on third country regulatory equivalence under EMIR in respect of Australia, originally published at the beginning of September 2013.

This supplement to the Final report sets out ESMA’s advice to the European Commission in respect of the equivalence between the Australian regulatory regime and the EU regulatory regime under EMIR related to trade repositories and potentially duplicative or conflicting requirements regarding the clearing obligation, reporting obligation, non-financial counterparties and risk-mitigation techniques for OTC derivative contracts not cleared by a CCP.

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