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EMIR

Blog restart – EMIR REFIT Q+A

This blog is restarting today after a few weeks’ absence due to personal circumstances. Over the coming days “catch up” posts will be published, as well as a special announcement tomorrow.

In the meantime, last week ESMA published an updated Questions and Answers document on EMIR which can be found here. This version adds TR Question 54 on page 121 which deals with the case where an Financial Counterparty (FC) must report on behalf of a Non Financial Counterparty under the clearing threshold (NFC-). This rule under REFIT commences on 18th June for those NFC-’s that do not opt to carry on reporting.

The answers address which fields the NFC- must provide to the FC and other matters relating to this new type of delegation. The rest of REFIT for NFC’s started to apply last June, as described here. A delay to these requirements due to COVID has also been requested (see here).

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.

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