CFTC commissioners lash out at EC clearing proposal

Push to expand oversight of US CCPs is “clear breach” of 2016 equivalence deal, Quintenz says

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Hitting out: US regulators see EU proposals as threat to equivalence deal
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US regulators have reacted angrily to European proposals on the supervision of third-country central counterparties (CCPs), arguing they would breach a 2016 equivalence agreement in which the two jurisdictions deferred to each other’s rules.

The European Commission (EC) issued its proposal in June 2017. It would separate CCPs into two tiers – those that are systemically important and those that are not – based on a judgement by the European Securities and Markets Authority (Esma). Systemically

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