On May 21, 2015, ESMA published an opinion, dated May 7, 2015, on the composition of CCP colleges under EMIR following the establishment of the Single Supervisory Mechanism and the European Central Bank assuming direct responsibility for prudential supervision of large banks within the SSM. ESMA's opinion clarifies which authorities qualify as a college member as well as the voting rights that the ECB will hold as a college member.
ESMA's opinion is available at: http://www.esma.europa.eu/news/ESMA-published-its-opinion-composition-CCP-Colleges?t=326&o=home.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
