Esma chair hits back against regulatory overreach claims

Esma chairman Steven Maijoor denies the supervisor overstepped its authority when drafting clearing rules


The chairman of the European Securities and Markets Authority (Esma), Steven Maijoor, has hit back at accusations that the supervisor overstepped its mandate when drawing up regulatory technical standards for the clearing of over-the-counter derivatives.

The European Parliament's influential Economic and Monetary Affairs (Econ) Committee voted on February 4 to reject two regulatory technical standards, primarily because it felt Esma had gone too far in interpreting certain requirements set out

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