Following the February 9 announcement that the European Parliament Council and Commission had reached agreement on the European Market Infrastructure Regulation (EMIR) on over-the-counter (OTC) derivative transactions, central counterparties (CCPs) and trade repositories, as reported in the February 24, 2012, edition of Corporate and Financial Weekly Digest, the European Parliament adopted EMIR on March 29.

The press release issued by the Parliament announcing EMIR’s adoption is headlined “Clamping Down on the Derivatives Trade.” It highlights areas where the Parliament considers that it influenced the final text of EMIR including...