EC rejects pressure to speed up equivalence process

European Commission says third-country regulators prefer "legal certainty" to speed

slow-road

The European Commission's head of financial infrastructure, Patrick Pearson, has hit back at criticism that the process has been too slow and not transparent enough.

The commission rubber-stamped its first set of central counterparty (CCP) regulatory regimes to gain third-country equivalence at the end of October, in the form of Asian jurisdictions Australia, Hong Kong, Japan and Singapore.

Just days before the commission's decision, Masamichi Kono, vice-commissioner for international affairs at

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