you're reading...
EMIR

ECON committee agrees EMIR changes

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) last week voted to agree to the proposed changes to EMIR as part of the REFIT programme (see here). The press release can be found here. The changes agreed include:

  • Transactions between internal entities, where either entity is a Non Financial Counterparty (NFC) are no longer reportable.
  • Transactions between Financial Counterparties (FC) and Non Financial Counterparties under the clearing threshold (NFC-) should be reported by the FC on behalf of the NFC-, no matter where the NFC- is located.
  • The idea of an FC threshold is introduced. FCs under the threshold (FC-) would no longer be subject all of the clearing regulations.

The next step is for the proposed to be ratified in a Parliamentary plenary session, scheduled for June.

 

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.

Discussion

No comments yet.

Leave a Reply

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

WordPress.com Logo

You are commenting using your WordPress.com 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 )

w

Connecting to %s