EU Member States’ experts on financial services policy will get back to the negotiating table in September to start substantive talks on the European Commission (EC) proposal to amend the European Market Infrastructure Regulation (EMIR). This seeks to enhance the EU’s supervision of euro-denominated derivatives’ clearing in light of Brexit, potentially by bringing the bulk…

Four years after its initial consultation on the issue, and after several successive postponements, the European Commission finally presented in end-November its proposal for a recovery and resolution framework for central clearing counterparties (CCPs), the first of its kind across major international jurisdictions. The CCPs – which act as a counterparty to both sellers and…