Connecting the Data Dots: Sapient’s Jim Bennett Talks Compliance Reporting
The new European Union rules requiring reporting by fund managers of securities financing transactions (SFT) take effect on October 11, 2020. While the scope of the reporting requirements under Article 4 of the Securities...more
Firms outside of Europe should be aware of planned upcoming changes to how they access European markets. Key Points: ..The EU legislators have been reviewing various financial services regimes and developing reforms...more
Following its consultation earlier this year, the European Securities and Markets Authority has published final reports and the final technical advice on third-country CCP tiering, comparable compliance and fees under draft...more
Regulation (EU) No 648/2012 (“EMIR”) imposed a range of obligations which can apply to counterparties trading in derivatives, including a clearing obligation, risk mitigation obligations (including the exchange of collateral)...more
The European Securities and Markets Authority has launched consultations on proposed technical advice on third-country CCP tiering, comparable compliance and fees under draft revisions to the European Market Infrastructure...more
On Tuesday 28 May 2019, the EMIR Refit Regulation (the "EMIR Refit") was published in the Official Journal. Relevant entities now have only 19 days to prepare for some of the key changes, ahead of the go live date of Monday...more
A Commission Implementing Decision declaring equivalence of the Japanese legal, supervisory and enforcement arrangements for risk mitigation techniques and exchange of collateral has been published in the Official Journal of...more
Non-EU Managers Preparation for EMIR REFIT—What You Should be Doing Now To prepare for the imminent entering into force of EMIR REFIT, Katten recommends that the managers of non-EU AIFs consider the following actions....more
The EU proposals to amend technical aspects of the European Market Infrastructure Regulation (EMIR), known colloquially as ‘EMIR 2.1’ or ‘EMIR Refit’, have been politically agreed. The final text is likely to be published in...more
The European Securities and Markets Authority has issued a public statement urging customers of credit rating agencies and trade repositories to prepare for a "no deal" Brexit. The European Market Infrastructure Regulation...more
Many EU and U.K. financial institutions have been waiting with bated breath for (and commencing their contingency plans without) a clear picture of what post-Brexit U.K.-EU financial services will look like. In this note we...more
In this newsletter, we provide a snapshot of the principal European, US and selected international governance and securities law developments of interest to European corporates. ...more
The European Commission has published legislative proposals to amend the European Market Infrastructure Regulation and the Regulation establishing the European Securities and Markets Authority. The proposals are on the...more
Last week, the European Commission published proposals to amend the European Market Infrastructure Regulation (EMIR), which is the main piece of EU legislation governing derivatives markets. Among the amendments proposed is a...more
The European Banking Authority published final draft Regulatory Technical Standards on the procedures for excluding transactions with non-financial counterparties established in a third country (which do not hold positions...more
Ten decisions on the equivalence of third country regulatory regimes under the European Market Infrastructure Regulation were published in the Official Journal of the European Union. ...more
The European Securities and Markets Authority published an updated list of recognized central counterparties based in third countries. Under the European Markets Infrastructure Regulation, third-country CCPs must be...more
On August 6, 2015, the European Commission (EC) adopted new rules that will require the clearing of certain over-the-counter (OTC) interest rate swaps pursuant to the European Market Infrastructure Regulation (EMIR) (the EU...more
On June 10, the European Supervisory Authorities (ESA) published a second consultation paper on draft Regulatory Technical Standards (RTS) to implement the European Market Infrastructure Regulation (EMIR) requirement that...more