EU regulators concerned by CFTC's foreign CCP rules

UK's FCA warns US plans may not pass European equivalence test

FCA headquarters, Canary Wharf

European regulators are warning that planned US rules for foreign clearing houses that would bar them from accepting US clients could prevent US central counterparties (CCPs) being approved under Europe's own rules.

The prospect of an authorisation tug-of-war stems from the European Market Infrastructure Regulation (Emir), which states that a country's clearing regulation can only be deemed equivalent if it has a reciprocal regime for authorising European and other third-country clearers.


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