you're reading...

Report on the transposition of REMIT into law across the member states

The CEER yesterday published this report on how well the various member states are doing in putting REMIT into law. Each country was to put REMIT into law by June last year. However many did not, and as can be seen from the report some still haven’t although the number is decreasing.

It also notes the variability of the implementations from country to country, with some only having civil sanctions and other with criminal sanctions. The UK is planning to introduce criminal sanctions for REMIT next year).

Also interesting is the variability in monitoring activity across countries, with some authorities having purchased monitoring software and hired teams to carry out monitoring, and others having done neither.

It would appear that the penalty for abusing the market will vary widely. Not only geographically, but also depending on whether the activity is covered by REMIT or MAR/MAD II.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s