Maijoor: EU-US segregation clash ‘not a simple issue’

It is not clear that European rules will permit firms to use US collateral protections

esma-building
Esma headquarters

The chairman of the European Securities and Markets Authority (Esma), Steven Maijoor, says regulators are facing a 'conflict of law' as they try to resolve issues arising from differing transatlantic regulations on the protection of client collateral. In the US, banks can only offer an approach known as legal segregation with operational commingling (Lsoc), while the European Market Infrastructure Regulation (Emir) requires two types of accounts, neither of which matches Lsoc precisely.

"Under E

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: