Risk Annual Summit: Emir rules will be binding from 2013, says Pearson
Esma doesn’t have much time to draw up technical standards, but regulators will be ‘nimble on their feet’, says EC’s Pearson
European rules governing the mandatory clearing of standardised over-the-counter derivatives will be binding from January 2013, despite the short time frame for the European Securities and Markets Authority (Esma) to write technical standards, according to Patrick Pearson, head of the financial markets infrastructure unit at the European Commission (EC).
The final text of the European Market Infrastructure Regulation (Emir) was signed off by the Council of the European Union today, and will be
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