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Regulation (EU) No 648/2012 of the European Parliament and of
the Council of 4 July 2012 on over-the-counter derivatives
("OTC Derivatives"), central counterparties
("CCPs") and trade repositories ("EMIR")
entered into force on 16 August 2012.
On 27 September 2012, the European Securities and Markets
Authority ("ESMA") issued its final technical standards
(the "Final Report") on EMIR. The Final Report sets out
ESMA's recommendations concerning EMIR and its
implementation.
The Final Report was adopted by the European Commission on 19
December 2012 and entered into force on 15 March 2013.
ESMA has now issued a Questions and Answers paper (the
"Q&A Paper") aimed at competent authorities, to
ensure the consistent application of EMIR, and to investors in a
bid to provide clarity on the requirements under EMIR.
The Q&A Paper will be reviewed periodically to determine if it
is necessary to issue additional ESMA guidelines or
recommendations.
The Q&A Paper is divided into sections concerning OTC
Derivatives, CCPs and trade repositories.
For a link to the Q&A Paper please click here.
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.
