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On December 16, 2015, the European Commission published a proposed Regulation which would amend the CRR with regards to exemptions for commodity dealers.
On December 16, 2015, the European Commission published a
proposed Regulation which would amend the CRR with regards to
exemptions for commodity dealers. The CRR currently exempts
commodity dealers from large exposures requirements and own fund
requirements until December 31, 2017. That date was set on the
basis that the Commission would have conducted a review of the
prudential regime applicable to commodity dealers and to investment
firms by the end of 2015 and, if appropriate, proposed a
legislative regime adapted for the risks profile of commodity
dealers and investment firms. The Commissions' review is still
in progress. The Commission is therefore proposing that the CRR
exemptions are extended until December 31, 2020 to allow time for
work in this area to be completed and to avoid the need for
relevant firms to temporarily comply with the full CRR requirements
in 2018 before being subsequently moved to a tailored regime within
two to three years.
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